Emerald Advisers LLC Boosts Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Emerald Advisers LLC raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,249 shares of the technology company's stock after buying an additional 6,647 shares during the quarter. Emerald Advisers LLC owned about 0.49% of Cogent Communications worth $18,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC lifted its position in Cogent Communications by 1.1% during the second quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company's stock valued at $1,095,000 after buying an additional 202 shares during the period. Hexagon Capital Partners LLC lifted its position in Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock valued at $41,000 after buying an additional 226 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Cogent Communications by 5.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company's stock valued at $378,000 after buying an additional 262 shares during the period. Blue Trust Inc. lifted its position in Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock valued at $31,000 after buying an additional 272 shares during the period. Finally, Covestor Ltd raised its position in shares of Cogent Communications by 17.2% in the 1st quarter. Covestor Ltd now owns 1,880 shares of the technology company's stock worth $123,000 after purchasing an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Cogent Communications Stock Performance

NASDAQ:CCOI traded up $1.34 during mid-day trading on Friday, reaching $81.62. The company's stock had a trading volume of 339,805 shares, compared to its average volume of 318,953. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.00. The firm's fifty day moving average price is $76.19 and its two-hundred day moving average price is $66.96. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. The stock has a market cap of $4.00 billion, a P/E ratio of 89.69 and a beta of 0.40.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.985 per share. This is an increase from Cogent Communications's previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend was Thursday, August 22nd. Cogent Communications's payout ratio is currently 432.97%.

Insider Buying and Selling at Cogent Communications

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

Analyst Ratings Changes

Several research firms have recently issued reports on CCOI. Bank of America lowered Cogent Communications from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. Citigroup lifted their price target on Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. The Goldman Sachs Group lifted their price target on Cogent Communications from $62.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. TD Cowen lifted their price target on Cogent Communications from $78.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Finally, KeyCorp lifted their price target on Cogent Communications from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $77.14.

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.