Frank Rimerman Advisors LLC Buys New Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Frank Rimerman Advisors LLC bought a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,148 shares of the technology company's stock, valued at approximately $320,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Cogent Communications by 4.3% during 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 acquiring an additional 212 shares during the period. Blue Trust Inc. raised its holdings in Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after acquiring an additional 218 shares during the period. KBC Group NV raised its holdings in Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company's stock valued at $111,000 after acquiring an additional 326 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Cogent Communications by 0.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company's stock valued at $3,887,000 after acquiring an additional 326 shares during the period. Finally, Phillips Wealth Planners LLC increased its holdings in shares of Cogent Communications by 6.6% in the fourth 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. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

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Cogent Communications Trading Down 2.2 %

NASDAQ CCOI traded down $1.54 during trading hours on Thursday, hitting $68.97. 253,607 shares of the company were exchanged, compared to its average volume of 420,506. The stock has a 50-day moving average price of $75.23 and a 200 day moving average price of $76.85. The company has a quick ratio of 2.03, a current 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 stock has a market cap of $3.40 billion, a PE ratio of 88.42 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $252.29 million during the quarter, compared to analyst estimates of $258.49 million. Analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $1.005 dividend. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.83%. Cogent Communications's payout ratio is presently -93.49%.

Insider Activity at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares of the company's stock, valued at approximately $7,422,180. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $72.57, for a total value of $174,168.00. Following the transaction, the vice president now directly owns 41,000 shares in the company, valued at approximately $2,975,370. The trade was a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,681 shares of company stock worth $840,878. Company insiders own 11.40% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised 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 given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cogent Communications has a consensus rating of "Hold" and a consensus 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.