Advantage Alpha Capital Partners LP Lowers Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Advantage Alpha Capital Partners LP lessened its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 11.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,608 shares of the technology company's stock after selling 9,253 shares during the period. Cogent Communications comprises 1.4% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 23rd biggest holding. Advantage Alpha Capital Partners LP owned about 0.15% of Cogent Communications worth $5,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CCOI. Quest Partners LLC purchased a new position in shares of Cogent Communications in the 3rd quarter valued at $46,000. Intech Investment Management LLC boosted its stake in Cogent Communications by 85.7% during the third quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock valued at $1,284,000 after buying an additional 7,803 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cogent Communications by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 497,486 shares of the technology company's stock worth $37,769,000 after purchasing an additional 21,429 shares in the last quarter. Raymond James Trust N.A. grew its stake in Cogent Communications by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 9,171 shares of the technology company's stock valued at $696,000 after acquiring an additional 418 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Cogent Communications by 56.8% during the 3rd quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock worth $4,297,000 after purchasing an additional 20,510 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the business's stock in a transaction on Friday, March 7th. The shares were 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 in the company, valued at $2,975,370. The trade was a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was 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 $740,325.12. This represents a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock worth $840,878 over the last quarter. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Stock Down 2.1 %

NASDAQ:CCOI traded down $1.30 during trading hours on Thursday, reaching $61.77. The company had a trading volume of 234,860 shares, compared to its average volume of 422,946. The business's 50-day simple moving average is $74.65 and its two-hundred day simple moving average is $76.70. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 79.09 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.22) by $0.31. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $1.005 dividend. This represents a $4.02 annualized dividend and a yield of 6.51%. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications's dividend payout ratio (DPR) is presently -93.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $80.25.

Cogent Communications Company 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.