CCM Investment Advisers LLC Increases Holdings in Equinix, Inc. (NASDAQ:EQIX)

CCM Investment Advisers LLC grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.4% during the second quarter, Holdings Channel reports. The fund owned 9,613 shares of the financial services provider’s stock after purchasing an additional 581 shares during the period. CCM Investment Advisers LLC’s holdings in Equinix were worth $7,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CNB Bank lifted its holdings in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the period. Valley National Advisers Inc. lifted its position in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the second quarter worth $30,000. LRI Investments LLC bought a new position in shares of Equinix in the 1st quarter valued at about $31,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Equinix during the 4th quarter valued at approximately $32,000. 94.94% of the stock is 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 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 completion of the sale, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated 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 directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

EQIX stock traded up $9.40 on Friday, reaching $818.88. The company’s stock had a trading volume of 365,855 shares, compared to its average volume of 568,032. The company has a market capitalization of $77.72 billion, a P/E ratio of 81.90, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The firm has a fifty day moving average of $773.24 and a two-hundred day moving average of $796.01. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. 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 announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, August 21st. Equinix’s dividend payout ratio is 170.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQIX. Mizuho assumed coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. TD Cowen boosted their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group initiated coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Finally, Royal Bank of Canada cut their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $871.71.

Equinix Company 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.