31,946 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 31,946 shares of the technology company's stock, valued at approximately $2,425,000. Cinctive Capital Management LP owned about 0.07% of Cogent Communications as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CCOI. Ipswich Investment Management Co. Inc. increased its holdings in shares of Cogent Communications by 0.5% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company's stock worth $3,119,000 after acquiring an additional 185 shares during the period. Taylor Frigon Capital Management LLC raised its holdings 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 valued at $1,095,000 after buying an additional 202 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings 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 valued at $41,000 after buying an additional 226 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted 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 during the period. Finally, Blue Trust Inc. grew its holdings in Cogent Communications by 204.5% in the 3rd 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. 92.45% of the stock is owned by institutional investors and hedge funds.

Cogent Communications Stock Down 3.6 %

NASDAQ CCOI traded down $3.02 on Tuesday, reaching $80.27. The stock had a trading volume of 603,269 shares, compared to its average volume of 439,334. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 104.91 and a beta of 0.39. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The business has a 50 day moving average price of $80.54 and a 200 day moving average price of $69.80.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted 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 36.31% and a net margin of 3.73%. The business had revenue of $257.20 million for the quarter, compared to analyst estimates of $258.69 million. During the same period in the previous year, the company posted ($1.13) earnings per share. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts forecast that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 4.96%. This is an increase from Cogent Communications's previous quarterly dividend of $0.99. Cogent Communications's payout ratio is currently 510.26%.

Insider Buying and Selling at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,557,014.14. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Blake Bath sold 6,220 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.69, for a total value of $520,551.80. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $836,900. This trade represents a 38.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,016 shares of company stock valued at $1,116,135 in the last 90 days. 11.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CCOI shares. TD Cowen boosted their price target on Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Citigroup upped their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, August 19th. The Goldman Sachs Group raised their target price on shares of Cogent Communications from $62.00 to $71.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. UBS Group initiated coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a "buy" rating and a $102.00 price target for the company. Finally, Bank of America lowered shares of Cogent Communications from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.