Top 5 Stocks to Buy Today According to Stephen Perkins’ Toronado Partners

2. GDS Holdings Limited (NASDAQ: GDS)

Perkins’ Stake Value: $40,881,000
Percentage of Stephen Perkins’ 13F Portfolio: 11.91%
Number of Hedge Fund Holders: 38

GDS Holdings Limited (NASDAQ: GDS) constructs and operates data centers in the People’s Republic of China, along with its subsidiaries. The company was founded in 2001, and it stands second on the list of top 10 stocks to buy today according to Stephen Perkins’ Toronado Partners. GDS Holdings Limited (NASDAQ: GDS) currently has a market capitalization of $11.72 billion. 

On August 19, RBC Capital analyst Jonathan Atkin lowered its price target on GDS Holdings Limited (NASDAQ: GDS) to $100 from $122 but kept an “Outperform” rating on the shares. In a research note, the analyst tells investors that the company’s second-quarter revenues were in line with estimates, and management observed a “strong” demand environment. As a result, Atkin maintains his bullish outlook for the stock but cuts his forecast EBITDA multiple from 18 to 15 to properly reflect country risk and economic uncertainty.

The hedge fund chaired by Stephen Perkins owns 520,845 shares in the company worth over $40.89 million, representing 11.91% of their investment portfolio. Toronado Partners has increased its stake in GDS Holdings Limited (NASDAQ: GDS) by 15% in the second quarter of 2021. According to our database, the number of GDS Holdings Limited (NASDAQ: GDS) long hedge funds positions decreased in the second quarter of 2021. There were 38 hedge funds that hold a position in GDS Holdings Limited (NASDAQ: GDS) compared to 40 funds in the first quarter of 2021.