Overbrook Management Corp Buys New Shares in Equinix, Inc. (NASDAQ:EQIX)

Overbrook Management Corp purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 576 shares of the financial services provider’s stock, valued at approximately $475,000.

Other institutional investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. raised its stake in shares of Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in Equinix in the 4th quarter worth approximately $32,000. Operose Advisors LLC bought a new stake in shares of Equinix in the 3rd quarter worth approximately $36,000. Rise Advisors LLC bought a new position in shares of Equinix during the first quarter valued at approximately $39,000. Finally, Anchor Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at approximately $49,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EQIX has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. TD Cowen decreased their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada reduced their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $872.50.

Equinix Stock Performance

Shares of EQIX stock traded up $10.09 during trading hours on Thursday, hitting $751.96. The stock had a trading volume of 331,670 shares, compared to its average volume of 596,626. The stock’s 50 day moving average is $755.44 and its 200 day moving average is $800.82. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The firm has a market capitalization of $71.37 billion, a PE ratio of 74.76, a PEG ratio of 2.59 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.