SPO Advisory Further Further Increases Exposure to Equinix Inc (EQIX)

John H. Scully of SPO Advisory Corp, is bullish on Equinix Inc (NASDAQ:EQIX). A new filing with the Securities and Exchange Commission showed that SPO Advisory has further raised its position in Equinix to 5.41 million shares from 5.21 million shares. According to the filing, the fund has bought a total of 135,000 shares of Equinix at an average price of $179.73.

Equinix Inc (NASDAQ:EQIX)

Equinix Inc (NASDAQ:EQIX) is a global interconnection and data center company that connects more than 4,500 companies directly to their customers and partners inside the world’s most networked data centers. The company has a market cap of $8.9 billion, and trades at a P/E of around 98.4. Recently, Equinix Inc (NASDAQ:EQIX) has formed a partnership to bring Microsoft Azure ExpressRoute to 16 global markets inside Equinix International Business Exchange (IBX) data centers, according to a statement.

For the fourth quarter of 2013, the company reported a 12% increase in revenues, as compared to the same quarter in 2012. The company’s revenues were $564.7 million for the fourth quarter and $2.2 billion for the year ended December 31, 2013. Net income attributable to Equinix for the fourth quarter was $45.2 million, representing a basic net income per share attributable to the company of $0.91 and a diluted net income per share attributable to the company of $0.88 based on a weighted average share count of 49.8 million and 53.5 million, respectively, for the fourth quarter.

Other major shareholders of the company include Barry Rosenstein’s Jana Partners and Jeffrey Tannenbaum’s Fir Tree, owning 3.01 million shares and 2.97 million shares respectively. In its most recent 13F, Paulson & Co, managed by John Paulson, disclosed holding 2.09 million shares.

SPO Advisory Corp is a value investing fund with a very concentrated portfolio. In February, the fund disclosed reducing its position in Calpine Corporation (NYSE:CPN) to around 12.12 million shares.

Disclosure: none

Recommended Reading:

Soroban Capital Partners Discloses New Position in Sinclair Broadcast Group Inc (SBGI)

Gamco Investors’ Latest Moves Involve Bel Fuse Inc. (BELFA), Telephone & Data Systems Inc. (TDS) & National Fuel Gas Co. (NFG)

Silver Point Capital Ups stake in Standard Register Co (SR)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!