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

Advantage Alpha Capital Partners LP lessened its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 40.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,861 shares of the technology company's stock after selling 56,489 shares during the period. Cogent Communications accounts for approximately 1.4% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 16th biggest position. Advantage Alpha Capital Partners LP owned approximately 0.17% of Cogent Communications worth $6,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCOI. EntryPoint Capital LLC acquired a new stake in Cogent Communications during the 1st quarter worth $26,000. Blue Trust Inc. boosted its position in 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 acquiring an additional 272 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock valued at $41,000 after acquiring an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock valued at $44,000 after acquiring an additional 441 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Cogent Communications in the 3rd quarter worth approximately $46,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40. Following the completion of the sale, the executive now owns 50,982 shares in the company, valued at approximately $3,557,014.14. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Blake Bath sold 6,220 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $83.69, for a total value of $520,551.80. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $836,900. This trade represents a 38.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,016 shares of company stock worth $1,116,135 in the last ninety days. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Stock Down 0.6 %

Shares of CCOI traded down $0.52 during midday trading on Tuesday, reaching $82.50. The stock had a trading volume of 389,798 shares, compared to its average volume of 440,874. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 105.77 and a beta of 0.40. The company's fifty day simple moving average is $79.45 and its two-hundred day simple moving average is $68.96. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $257.20 million during the quarter, compared to the consensus estimate of $258.69 million. During the same period in the previous year, the business earned ($1.13) EPS. Cogent Communications's revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.82%. This is an increase from Cogent Communications's previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 22nd. Cogent Communications's dividend payout ratio (DPR) is 510.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group assumed coverage on Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 price target for the company. Citigroup boosted their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, August 19th. The Goldman Sachs Group raised their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cogent Communications has a consensus rating of "Hold" and an average target price of $80.25.

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.