Kornitzer Capital Management Inc. KS Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,412 shares of the financial services provider’s stock after selling 46 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Equinix were worth $1,331,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. increased its stake in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC increased its stake in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Sierra Ocean LLC acquired a new position in Equinix during the 4th quarter worth approximately $42,000. Dunhill Financial LLC grew its holdings in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in Equinix during the 4th quarter worth approximately $47,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Up 0.8 %

Shares of Equinix stock opened at $939.08 on Thursday. The company has a market cap of $91.40 billion, a P/E ratio of 109.83, a PEG ratio of 2.24 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The firm has a fifty day moving average of $932.87 and a two-hundred day moving average of $899.70.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, analysts forecast that Equinix, Inc. will post 33.71 earnings per share for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 199.30%.

Insider Activity

In other news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,826 shares of company stock worth $15,555,490 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on EQIX shares. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Scotiabank lowered their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company lowered their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. BMO Capital Markets lowered their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $994.82.

Equinix Profile

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.