Global Alpha Capital Management Ltd. Reduces Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Global Alpha Capital Management Ltd. decreased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,450 shares of the technology company's stock after selling 12,263 shares during the quarter. Global Alpha Capital Management Ltd.'s holdings in Cogent Communications were worth $1,345,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Cogent Communications in the 3rd quarter valued at $30,000. Quest Partners LLC acquired a new stake in Cogent Communications in the third quarter valued at $46,000. Blue Trust Inc. raised its stake in 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 buying an additional 218 shares in the last quarter. BankPlus Trust Department purchased a new stake in Cogent Communications during the 4th quarter worth about $63,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock worth $67,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CCOI. UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They set a "buy" rating and a $102.00 target price for the company. 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 issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $80.25.

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Cogent Communications Stock Performance

NASDAQ:CCOI traded up $0.01 during trading hours on Wednesday, reaching $69.94. 422,194 shares of the company's stock were exchanged, compared to its average volume of 372,338. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 89.67 and a beta of 0.45. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The company has a 50-day moving average of $75.89 and a 200 day moving average of $76.97.

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 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%. Research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $1.005 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.75%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's payout ratio is presently -93.49%.

Insider Transactions at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the transaction, the vice president now owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 in the company, valued at approximately $7,422,180. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,525 shares of company stock worth $1,137,498 over the last 90 days. 11.00% of the stock is currently owned by insiders.

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.