Cramer Rosenthal Mcglynn LLC Lowers Stock Holdings in Equinix Inc (NASDAQ:EQIX)

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Cramer Rosenthal Mcglynn LLC trimmed its position in Equinix Inc (NASDAQ:EQIX) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,593 shares of the financial services provider’s stock after selling 33,087 shares during the quarter. Equinix makes up approximately 1.6% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 17th biggest holding. Cramer Rosenthal Mcglynn LLC owned approximately 0.14% of Equinix worth $56,780,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Equinix in the second quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new position in shares of Equinix in the second quarter worth approximately $26,000. Carroll Financial Associates Inc. increased its position in shares of Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 21 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of Equinix in the first quarter worth approximately $28,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Equinix in the second quarter worth approximately $29,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

EQIX has been the topic of several research analyst reports. BidaskClub cut shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Credit Suisse Group set a $556.00 price objective on shares of Equinix and gave the stock a “buy” rating in a research report on Thursday, July 11th. BMO Capital Markets restated a “buy” rating and issued a $520.00 price objective on shares of Equinix in a research report on Tuesday, July 2nd. Nomura upped their price objective on shares of Equinix from $505.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer upped their price objective on shares of Equinix from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $533.58.

In other news, Director Camp Peter Van sold 3,191 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $549.78, for a total transaction of $1,754,347.98. Following the completion of the sale, the director now owns 4,024 shares of the company’s stock, valued at $2,212,314.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 2,960 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $516.44, for a total value of $1,528,662.40. Following the sale, the insider now directly owns 19,253 shares of the company’s stock, valued at approximately $9,943,019.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,409 shares of company stock valued at $6,727,033. Insiders own 0.49% of the company’s stock.

NASDAQ EQIX traded down $3.70 on Friday, reaching $535.18. 1,085 shares of the company’s stock traded hands, compared to its average volume of 348,106. Equinix Inc has a 12 month low of $335.29 and a 12 month high of $567.89. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a 50-day simple moving average of $538.35 and a 200 day simple moving average of $491.15. The stock has a market cap of $43.16 billion, a PE ratio of 25.83, a P/E/G ratio of 1.76 and a beta of 0.70.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. Equinix had a net margin of 9.29% and a return on equity of 6.29%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 earnings per share. As a group, analysts anticipate that Equinix Inc will post 20.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, August 20th. Equinix’s dividend payout ratio (DPR) is presently 47.56%.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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