CenterBook Partners LP Boosts Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

CenterBook Partners LP raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 89.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,594 shares of the technology company's stock after purchasing an additional 18,694 shares during the period. CenterBook Partners LP owned approximately 0.08% of Cogent Communications worth $3,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Cogent Communications by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company's stock worth $394,182,000 after buying an additional 43,523 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cogent Communications by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,344 shares of the technology company's stock valued at $39,255,000 after buying an additional 11,858 shares during the period. Principal Financial Group Inc. boosted its position in Cogent Communications by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 206,196 shares of the technology company's stock worth $15,892,000 after buying an additional 6,235 shares during the period. US Bancorp DE increased its position in Cogent Communications by 11.4% in the 4th quarter. US Bancorp DE now owns 19,596 shares of the technology company's stock valued at $1,510,000 after acquiring an additional 2,009 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Cogent Communications during the fourth quarter valued at $382,000. 92.45% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications 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 completion of the sale, the vice president now directly owns 41,000 shares of the company's stock, valued at approximately $2,975,370. The trade was a 5.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lewis H. Ferguson sold 956 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the sale, the director now owns 18,652 shares in the company, valued at $1,293,702.72. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,681 shares of company stock valued at $840,878. Company insiders own 11.40% of the company's stock.

Cogent Communications Stock Up 0.5 %

CCOI stock traded up $0.28 during mid-day trading on Tuesday, reaching $53.36. 112,895 shares of the company traded hands, compared to its average volume of 454,657. Cogent Communications Holdings, Inc. has a fifty-two week low of $47.54 and a fifty-two week 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's 50 day moving average price is $69.05 and its 200 day moving average price is $75.00. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 68.41 and a beta of 0.69.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.22) by $0.31. The firm had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. As a group, equities research analysts predict 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 was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 7.53%. Cogent Communications's dividend payout ratio is -93.49%.

Analyst Upgrades and Downgrades

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

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.