SG Americas Securities LLC Takes $891,000 Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

SG Americas Securities LLC bought a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,730 shares of the technology company's stock, valued at approximately $891,000.

A number of other institutional investors also recently modified their holdings of the business. Senator Investment Group LP lifted its position in Cogent Communications by 7.5% during the second quarter. Senator Investment Group LP now owns 716,768 shares of the technology company's stock worth $40,454,000 after purchasing an additional 50,000 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Cogent Communications by 127.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock worth $44,000 after purchasing an additional 441 shares during the period. Creative Planning lifted its position in Cogent Communications by 58.3% during the second quarter. Creative Planning now owns 12,575 shares of the technology company's stock worth $710,000 after purchasing an additional 4,632 shares during the period. Algert Global LLC bought a new stake in Cogent Communications during the second quarter worth about $251,000. Finally, The Manufacturers Life Insurance Company lifted its position in Cogent Communications by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,887 shares of the technology company's stock worth $1,461,000 after purchasing an additional 1,256 shares during the period. Institutional investors own 92.45% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CCOI. JPMorgan Chase & Co. upped their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Citigroup boosted their target price on Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. KeyCorp boosted their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 27th. TD Cowen boosted their target price on Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $74.00 target price on shares of Cogent Communications in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $77.14.

Insiders Place Their Bets

In other Cogent Communications news, VP John B. Chang sold 1,400 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the transaction, the vice president now directly owns 71,580 shares in the company, valued at approximately $5,130,138.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP John B. Chang sold 1,400 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total value of $100,338.00. Following the transaction, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lewis H. Ferguson sold 1,550 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total value of $112,561.00. Following the completion of the transaction, the director now owns 17,748 shares in the company, valued at approximately $1,288,859.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,870 shares of company stock worth $4,716,057. Corporate insiders own 11.40% of the company's stock.

Cogent Communications Trading Up 0.7 %

Shares of Cogent Communications stock traded up $0.57 on Friday, hitting $80.45. The stock had a trading volume of 276,966 shares, compared to its average volume of 451,176. The stock has a 50 day moving average of $72.90 and a 200 day moving average of $65.04. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.00. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market capitalization of $3.94 billion, a P/E ratio of 3.19 and a beta of 0.41.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The company had revenue of $260.40 million during the quarter, compared to the consensus estimate of $264.32 million. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. Sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.985 per share. This represents a $3.94 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Thursday, August 22nd. This is an increase from Cogent Communications's previous quarterly dividend of $0.98. Cogent Communications's dividend payout ratio is currently 15.61%.

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.