Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP increased its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOIFree Report) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,635 shares of the technology company’s stock after acquiring an additional 78,944 shares during the period. First Trust Advisors LP owned approximately 0.70% of Cogent Communications worth $25,985,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. grew its holdings in Cogent Communications by 313.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock worth $38,000 after acquiring an additional 383 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Cogent Communications by 109.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock valued at $48,000 after purchasing an additional 333 shares during the period. Fifth Third Bancorp boosted its position in shares of Cogent Communications by 56.7% in the 4th quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock valued at $154,000 after purchasing an additional 733 shares during the period. Strs Ohio boosted its position in shares of Cogent Communications by 16.7% in the 4th quarter. Strs Ohio now owns 2,100 shares of the technology company’s stock valued at $159,000 after purchasing an additional 300 shares during the period. Finally, CI Investments Inc. acquired a new position in shares of Cogent Communications in the 3rd quarter valued at $142,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Cogent Communications Trading Down 6.0 %

Shares of NASDAQ CCOI opened at $51.79 on Tuesday. The firm has a market capitalization of $2.54 billion, a PE ratio of 2.05 and a beta of 0.41. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.80. Cogent Communications Holdings, Inc. has a one year low of $51.69 and a one year high of $86.00. The business has a 50-day moving average price of $61.59 and a two-hundred day moving average price of $68.43.

Cogent Communications (NASDAQ:CCOIGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.19). The firm had revenue of $266.17 million for the quarter, compared to analyst estimates of $274.13 million. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. As a group, analysts predict that Cogent Communications Holdings, Inc. will post -4.63 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 7.53%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.97. The ex-dividend date was Wednesday, May 22nd. Cogent Communications’s payout ratio is currently 15.45%.

Insider Activity

In other news, CEO Dave Schaeffer sold 26,174 shares of Cogent Communications stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the completion of the sale, the chief executive officer now directly owns 4,653,203 shares in the company, valued at approximately $298,782,164.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $56.00, for a total value of $134,400.00. Following the transaction, the vice president now directly owns 38,600 shares of the company’s stock, valued at approximately $2,161,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dave Schaeffer sold 26,174 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $64.21, for a total value of $1,680,632.54. Following the completion of the transaction, the chief executive officer now directly owns 4,653,203 shares in the company, valued at $298,782,164.63. The disclosure for this sale can be found here. Insiders sold a total of 114,614 shares of company stock worth $7,151,448 in the last three months. 11.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. KeyCorp decreased their price target on Cogent Communications from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. TheStreet upgraded Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. JPMorgan Chase & Co. decreased their price target on Cogent Communications from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Finally, TD Cowen decreased their price objective on Cogent Communications from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.14.

View Our Latest Stock Report on Cogent Communications

Cogent Communications Company Profile

(Free Report)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.

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Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

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