Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC decreased its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,000 shares of the technology company's stock after selling 11,714 shares during the quarter. Ceredex Value Advisors LLC owned approximately 0.36% of Cogent Communications worth $13,718,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new stake in shares of Cogent Communications in the fourth quarter valued at approximately $46,000. Blue Trust Inc. grew its position in shares of Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after buying an additional 218 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Cogent Communications during the 4th quarter worth $63,000. Jones Financial Companies Lllp raised its holdings in shares of Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after acquiring an additional 498 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Cogent Communications by 212.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company's stock worth $113,000 after acquiring an additional 1,015 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

Insider Transactions at Cogent Communications

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Henry W. Kilmer sold 2,400 shares of the company's stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Insiders sold 11,681 shares of company stock valued at $840,878 in the last quarter. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Stock Down 0.2 %

Cogent Communications stock traded down $0.09 during trading hours on Tuesday, reaching $51.41. The stock had a trading volume of 84,718 shares, compared to its average volume of 455,601. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 65.67 and a beta of 0.69. The business's 50 day moving average price is $66.19 and its 200-day moving average price is $74.20. Cogent Communications Holdings, Inc. has a 52 week low of $47.54 and a 52 week 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 posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.31. The firm had revenue of $252.29 million during the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 7.82%. The ex-dividend date was Thursday, March 13th. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio is currently -93.49%.

Wall Street Analyst Weigh In

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