CyrusOne (NASDAQ:CONE) Sees Large Volume Increase

Shares of CyrusOne Inc (NASDAQ:CONE) saw strong trading volume on Wednesday . 5,496,199 shares traded hands during mid-day trading, an increase of 355% from the previous session’s volume of 1,208,731 shares.The stock last traded at $67.32 and had previously closed at $62.40.

A number of brokerages recently weighed in on CONE. Morgan Stanley reduced their price objective on CyrusOne from $78.50 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Bank of America lowered CyrusOne from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective on shares of CyrusOne in a research report on Tuesday, December 3rd. Credit Suisse Group set a $68.00 price objective on CyrusOne and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Raymond James restated a “buy” rating and set a $82.00 price objective (up previously from $72.00) on shares of CyrusOne in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. CyrusOne has a consensus rating of “Hold” and a consensus price target of $72.34.

The firm has a market cap of $7.06 billion, a P/E ratio of -451.47, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.21. The business has a 50-day moving average of $63.80 and a two-hundred day moving average of $67.92.

In other CyrusOne news, CEO Gary J. Wojtaszek sold 100,000 shares of CyrusOne stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $67.00, for a total transaction of $6,700,000.00. Following the transaction, the chief executive officer now directly owns 167,351 shares of the company’s stock, valued at approximately $11,212,517. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin L. Timmons sold 5,000 shares of CyrusOne stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $65.11, for a total value of $325,550.00. Following the transaction, the executive vice president now directly owns 97,075 shares in the company, valued at $6,320,553.25. The disclosure for this sale can be found here. Insiders have sold a total of 118,456 shares of company stock worth $7,900,195 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CONE. Exane Derivatives lifted its holdings in CyrusOne by 21,221.4% in the 3rd quarter. Exane Derivatives now owns 2,985 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 2,971 shares during the last quarter. Strategic Blueprint LLC acquired a new stake in CyrusOne in the 3rd quarter worth approximately $86,000. Mainstay Capital Management LLC ADV acquired a new stake in CyrusOne in the 3rd quarter worth approximately $204,000. Meeder Asset Management Inc. lifted its holdings in CyrusOne by 4,750.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 570 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in CyrusOne by 198.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,734 shares of the real estate investment trust’s stock worth $2,273,000 after purchasing an additional 19,092 shares during the last quarter.

About CyrusOne (NASDAQ:CONE)

CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 212 Fortune 1000 companies.

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