Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Bought by Deutsche Bank AG

Deutsche Bank AG grew its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 29.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,723 shares of the technology company’s stock after purchasing an additional 13,160 shares during the period. Deutsche Bank AG’s holdings in Cogent Communications were worth $4,449,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. DigitalBridge Group Inc. boosted its stake in shares of Cogent Communications by 246.0% during the 4th quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company’s stock worth $69,973,000 after purchasing an additional 645,521 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Cogent Communications by 24.1% in the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock worth $146,209,000 after acquiring an additional 368,129 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Cogent Communications in the fourth quarter worth approximately $479,000. Beaconlight Capital LLC boosted its position in shares of Cogent Communications by 17.2% in the fourth quarter. Beaconlight Capital LLC now owns 337,793 shares of the technology company’s stock worth $26,034,000 after acquiring an additional 49,569 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Cogent Communications by 45.7% in the fourth quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company’s stock worth $57,961,000 after acquiring an additional 235,842 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on CCOI. StockNews.com raised shares of Cogent Communications to a “sell” rating in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their target price on shares of Cogent Communications from $71.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, UBS Group decreased their target price on shares of Cogent Communications from $102.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.75.

Cogent Communications Stock Down 1.4%

Shares of NASDAQ:CCOI opened at $49.89 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The company has a fifty day simple moving average of $56.73 and a 200 day simple moving average of $70.11. The firm has a market cap of $2.46 billion, a PE ratio of 63.96 and a beta of 0.76. Cogent Communications Holdings, Inc. has a 12-month low of $45.00 and a 12-month high of $86.76.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.04). The company had revenue of $247.05 million during the quarter, compared to the consensus estimate of $250.81 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.38) EPS. On average, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 8.10%. The ex-dividend date is Thursday, May 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $1.01. Cogent Communications’s payout ratio is currently -100.75%.

Insiders Place Their Bets

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the completion of the transaction, the director now owns 10,147 shares in the company, valued at approximately $740,325.12. This represents a 12.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the transaction, the vice president now owns 41,000 shares of the company’s stock, valued at $2,975,370. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock valued at $840,878 over the last 90 days. 11.40% of the stock is owned by company insiders.

Cogent Communications Profile

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.