Natixis Advisors LLC Invests $847,000 in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Natixis Advisors LLC bought a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,986 shares of the technology company's stock, valued at approximately $847,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Cogent Communications in the 3rd quarter worth $30,000. Quest Partners LLC purchased a new position in shares of Cogent Communications in the 3rd quarter valued at approximately $46,000. Blue Trust Inc. boosted its stake in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after purchasing an additional 218 shares in the last quarter. BankPlus Trust Department purchased a new stake in Cogent Communications during the 4th quarter worth approximately $63,000. Finally, Jones Financial Companies Lllp increased its stake in Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after purchasing an additional 498 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the sale, the director now directly owns 10,147 shares of the company's stock, valued at approximately $740,325.12. The trade was a 12.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction that occurred 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 $7,422,180. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,681 shares of company stock valued at $840,878 in the last three months. 11.40% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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 given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $80.25.

Cogent Communications Stock Performance

NASDAQ:CCOI traded up $0.07 during trading hours on Friday, reaching $61.57. The company had a trading volume of 403,279 shares, compared to its average volume of 436,493. The firm has a market cap of $3.02 billion, a PE ratio of 78.94 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 business's 50 day moving average price is $74.21 and its 200-day moving average price is $76.61. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

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

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a yield of 6.53%. The ex-dividend date was Thursday, March 13th. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio is currently -93.49%.

About Cogent Communications

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.