Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lowered its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208,773 shares of the technology company's stock after selling 16,539 shares during the period. Blair William & Co. IL owned approximately 0.43% of Cogent Communications worth $16,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CCOI. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cogent Communications by 4.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company's stock valued at $400,000 after buying an additional 212 shares in the last quarter. Blue Trust Inc. lifted its position in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after acquiring an additional 218 shares in the last quarter. Royce & Associates LP boosted its stake in Cogent Communications by 0.6% during the 4th quarter. Royce & Associates LP now owns 33,883 shares of the technology company's stock valued at $2,611,000 after purchasing an additional 218 shares during the last quarter. Xponance Inc. increased its holdings in Cogent Communications by 10.9% during the 4th quarter. Xponance Inc. now owns 3,189 shares of the technology company's stock worth $246,000 after purchasing an additional 313 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Cogent Communications by 0.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company's stock worth $3,887,000 after purchasing an additional 326 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Cogent Communications Trading Down 0.0 %

Shares of CCOI traded down $0.02 during mid-day trading on Wednesday, reaching $61.65. The company's stock had a trading volume of 103,419 shares, compared to its average volume of 435,631. 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 52 week low of $50.80 and a 52 week high of $86.76. The company's fifty day moving average price is $73.75 and its two-hundred day moving average price is $76.45. The stock has a market cap of $3.04 billion, a PE ratio of 79.03 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. On average, analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared 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 is an increase from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications's dividend payout ratio is presently -93.49%.

Insider Activity

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 $7,422,180. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Henry W. Kilmer sold 2,400 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the transaction, the vice president now owns 41,000 shares in the company, valued at $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,681 shares of company stock valued at $840,878 in the last 90 days. 11.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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