Consolidated Planning Corp Makes New Investment in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Consolidated Planning Corp acquired a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,300 shares of the technology company's stock, valued at approximately $630,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Taylor Frigon Capital Management LLC grew its position in shares of Cogent Communications by 1.1% during the second quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company's stock worth $1,095,000 after buying an additional 202 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock worth $41,000 after buying an additional 226 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Cogent Communications by 5.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company's stock worth $378,000 after buying an additional 262 shares in the last quarter. Blue Trust Inc. grew its position in shares of Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock worth $31,000 after buying an additional 272 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Cogent Communications by 17.2% during the first quarter. Covestor Ltd now owns 1,880 shares of the technology company's stock worth $123,000 after buying an additional 276 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCOI. Bank of America cut Cogent Communications from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Royal Bank of Canada restated an "outperform" rating and set a $74.00 target price on shares of Cogent Communications in a research note on Tuesday, September 3rd. Citigroup boosted their price objective on Cogent Communications from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Finally, KeyCorp boosted their price objective on Cogent Communications from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Cogent Communications presently has an average rating of "Hold" and a consensus target price of $77.14.

Insider Buying and Selling at Cogent Communications

In related news, VP John B. Chang sold 1,400 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total value of $100,338.00. Following the sale, the vice president now owns 71,580 shares of the company's stock, valued at approximately $5,130,138.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Lewis H. Ferguson sold 1,550 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total value of $112,561.00. Following the completion of the sale, the director now owns 17,748 shares in the company, valued at $1,288,859.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP John B. Chang sold 1,400 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total value of $100,338.00. Following the sale, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,870 shares of company stock worth $4,716,057 in the last 90 days. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Trading Down 1.9 %

NASDAQ CCOI traded down $1.60 during trading hours on Friday, hitting $83.75. 473,268 shares of the company's stock were exchanged, compared to its average volume of 441,070. The business's 50 day moving average is $77.11 and its 200-day moving average is $67.50. The firm has a market capitalization of $4.10 billion, a P/E ratio of 107.91 and a beta of 0.40. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts' consensus estimates of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The company had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. During the same period last year, the business posted ($1.13) EPS. The company's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, analysts anticipate that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.995 per share. This represents a $3.98 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Friday, November 22nd. This is a positive change from Cogent Communications's previous quarterly dividend of $0.99. Cogent Communications's dividend payout ratio (DPR) is 510.26%.

About Cogent Communications

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.