Cogent Communications Holdings, Inc. (NASDAQ:CCOI) is Hood River Capital Management LLC's 8th Largest Position

Hood River Capital Management LLC boosted its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,436,855 shares of the technology company's stock after purchasing an additional 257,383 shares during the quarter. Cogent Communications makes up 1.6% of Hood River Capital Management LLC's holdings, making the stock its 8th largest position. Hood River Capital Management LLC owned about 2.93% of Cogent Communications worth $110,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tyro Capital Management LLC raised its holdings in shares of Cogent Communications by 0.6% during the third quarter. Tyro Capital Management LLC now owns 350,304 shares of the technology company's stock valued at $26,595,000 after acquiring an additional 2,063 shares during the last quarter. Meyer Handelman Co. purchased a new stake in Cogent Communications during the 4th quarter valued at about $284,000. Hennion & Walsh Asset Management Inc. raised its holdings in Cogent Communications by 16.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 15,841 shares of the technology company's stock valued at $1,221,000 after acquiring an additional 2,235 shares during the last quarter. Phillips Wealth Planners LLC boosted its holdings in shares of Cogent Communications by 6.6% during the 4th quarter. Phillips Wealth Planners LLC now owns 5,645 shares of the technology company's stock worth $405,000 after purchasing an additional 349 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after purchasing an additional 218 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cogent Communications Stock Performance

NASDAQ CCOI opened at $51.15 on Wednesday. The company has a market cap of $2.53 billion, a P/E ratio of 65.58 and a beta of 0.69. Cogent Communications Holdings, Inc. has a 1-year low of $47.54 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. The stock has a 50-day moving average of $65.56 and a two-hundred day moving average of $74.04.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $252.29 million during 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, analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 7.86%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications's dividend payout ratio is presently -93.49%.

Insider Buying and Selling

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now owns 103,000 shares of the company's stock, valued at approximately $7,422,180. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lewis H. Ferguson sold 956 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the completion of the transaction, the director now directly owns 18,652 shares of the company's stock, valued at $1,293,702.72. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,681 shares of company stock worth $840,878 over the last 90 days. 11.40% of the stock is owned by insiders.

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.

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