Light Street Capital Management LLC Sells 470,025 Shares of GDS Holdings $GDS

Light Street Capital Management LLC reduced its stake in shares of GDS Holdings (NASDAQ:GDS) by 65.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,557 shares of the company’s stock after selling 470,025 shares during the quarter. GDS makes up approximately 1.6% of Light Street Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Light Street Capital Management LLC’s holdings in GDS were worth $9,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Laird Norton Wetherby Wealth Management LLC lifted its holdings in GDS by 4.2% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 15,787 shares of the company’s stock valued at $611,000 after buying an additional 636 shares in the last quarter. Lighthouse Investment Partners LLC boosted its position in GDS by 22.0% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 152,468 shares of the company’s stock valued at $5,901,000 after buying an additional 27,468 shares during the period. Jain Global LLC bought a new position in GDS in the 3rd quarter worth about $6,268,000. Hidden Lake Asset Management LP increased its position in shares of GDS by 16.3% during the third quarter. Hidden Lake Asset Management LP now owns 205,496 shares of the company’s stock worth $7,953,000 after acquiring an additional 28,806 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of GDS by 79.6% during the third quarter. Fred Alger Management LLC now owns 302,453 shares of the company’s stock worth $11,705,000 after acquiring an additional 134,017 shares during the period. 33.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GDS has been the subject of several research analyst reports. TD Cowen decreased their price target on shares of GDS from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of GDS in a report on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GDS in a research report on Tuesday, January 13th. Finally, UBS Group set a $55.00 target price on GDS in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, GDS currently has an average rating of “Moderate Buy” and an average target price of $47.91.

GDS Trading Up 0.7%

NASDAQ GDS opened at $43.16 on Tuesday. GDS Holdings has a one year low of $16.92 and a one year high of $48.61. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.51 and a current ratio of 2.51. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 10.82 and a beta of 0.39. The company’s 50-day simple moving average is $43.19 and its two-hundred day simple moving average is $38.05.

About GDS

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.