Brinker Capital Inc. Decreases Holdings in Equinix Inc (EQIX)

Brinker Capital Inc. reduced its stake in Equinix Inc (NASDAQ:EQIX) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,733 shares of the financial services provider’s stock after selling 1,204 shares during the period. Brinker Capital Inc.’s holdings in Equinix were worth $5,547,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EQIX. Farmers & Merchants Investments Inc. boosted its stake in Equinix by 174.2% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 54 shares during the period. Pearl River Capital LLC acquired a new position in Equinix in the fourth quarter valued at approximately $35,000. Rehmann Capital Advisory Group boosted its stake in Equinix by 158.8% in the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 54 shares during the period. Proficio Capital Partners LLC boosted its stake in Equinix by 116.7% in the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 63 shares during the period. Finally, Lindbrook Capital LLC acquired a new position in Equinix in the fourth quarter valued at approximately $47,000. Institutional investors own 98.41% of the company’s stock.

In related news, Director Camp Peter Van sold 1,257 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $380.93, for a total transaction of $478,829.01. Following the sale, the director now owns 6,454 shares of the company’s stock, valued at $2,458,522.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles J. Meyers sold 5,648 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $380.97, for a total value of $2,151,718.56. Following the sale, the chief executive officer now directly owns 5,750 shares in the company, valued at approximately $2,190,577.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,513 shares of company stock valued at $11,262,623. Insiders own 0.51% of the company’s stock.

A number of equities analysts have commented on EQIX shares. BidaskClub downgraded Equinix from a “buy” rating to a “hold” rating in a research note on Thursday, December 27th. Jefferies Financial Group upgraded Equinix from a “hold” rating to a “buy” rating and lifted their target price for the company from $454.00 to $479.00 in a research note on Monday, December 10th. Credit Suisse Group lifted their target price on Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Berenberg Bank began coverage on Equinix in a research note on Tuesday, January 8th. They issued a “buy” rating and a $477.00 target price for the company. Finally, Zacks Investment Research downgraded Equinix from a “hold” rating to a “sell” rating in a research report on Monday, February 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $496.08.

Shares of NASDAQ EQIX opened at $441.61 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $35.62 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. Equinix Inc has a 12-month low of $335.29 and a 12-month high of $457.99.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Equinix had a return on equity of 6.88% and a net margin of 7.20%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, analysts predict that Equinix Inc will post 20.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 27th will be given a dividend of $2.46 per share. The ex-dividend date of this dividend is Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. This represents a $9.84 annualized dividend and a dividend yield of 2.23%. Equinix’s payout ratio is currently 47.56%.

TRADEMARK VIOLATION NOTICE: This article was first posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2019/03/17/brinker-capital-inc-decreases-holdings-in-equinix-inc-eqix.html.

Equinix Profile

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.

See Also: What is a stock buyback?

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply