Top 5 Stock Picks of Barry Rosenstein’s JANA Partners

In this article, we discuss the top 5 stock picks of Barry Rosenstein’s JANA Partners. If you want our detailed analysis of these stocks, go directly to the Top 10 Stock Picks of Barry Rosenstein’s JANA Partners. 

5. CyrusOne Inc. (NASDAQ:CONE)

JANA Partners’ Stake Value: $134,514,000

Percentage of JANA Partners’ 13F Portfolio: 10.76%

Number of Hedge Fund Holders: 27

CyrusOne Inc. (NASDAQ:CONE), a Texas-based real estate investment trust with interests in carrier-neutral data centers, colocation, and peering services, is one of the top stock picks of Barry Rosenstein’s JANA Partners. The hedge fund holds a $134.5 million position in CyrusOne Inc. (NASDAQ:CONE) as of the end of September, which accounts for 10.76% of the total Q3 securities at JANA Partners. 

In the third quarter, 27 hedge funds in the database of Insider Monkey were bullish on CyrusOne Inc. (NASDAQ:CONE), with one of the leading company stakeholders being billionaire Israel Englander’s Millennium Management, holding 555,535 shares worth $43 million.

On October 29, Jefferies analyst Jonathan Petersen downgraded CyrusOne Inc. (NASDAQ:CONE) to Hold from Buy with a price target of $90.50, up from $88, after the company agreed to be acquired by KKR & Co. Inc. (NYSE:KKR) and Global Infrastructure Partners in a $15 billion deal, for $90.50 per share in cash.

CyrusOne Inc. (NASDAQ:CONE), on October 27, reported a Q3 FFO of $0.01, beating estimates by $0.03. The revenue jumped 15.72% year-over-year to $304.10 million, outperforming estimates by $13.95 million. 

As of September, of the 27 hedge funds that were bullish on CyrusOne Inc. (NASDAQ:CONE), billionaire Ken Griffin’s Citadel Investment Group was one of the largest CyrusOne Inc. (NASDAQ:CONE) stakeholders, increasing its stake in the company by 10%, holding a $120.4 million position.