22,651 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Purchased by PEAK6 Investments LLC

PEAK6 Investments LLC purchased a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,651 shares of the technology company's stock, valued at approximately $1,720,000.

Several other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock valued at $31,000 after purchasing an additional 272 shares during the period. Hexagon Capital Partners LLC lifted its position in Cogent Communications by 72.9% in the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock worth $41,000 after purchasing an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock valued at $44,000 after buying an additional 441 shares during the period. Quest Partners LLC acquired a new position in shares of Cogent Communications in the 3rd quarter valued at $46,000. Finally, GAMMA Investing LLC boosted its holdings in Cogent Communications by 207.0% during the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company's stock valued at $50,000 after purchasing an additional 445 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

Wall Street Analyst Weigh In

CCOI has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Cogent Communications from $70.00 to $82.00 and gave the company a "buy" rating in a report on Monday, August 19th. TD Cowen increased 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. KeyCorp raised their price objective on Cogent Communications from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 27th. UBS Group initiated coverage on Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 target price on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $74.00 price objective on shares of Cogent Communications in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cogent Communications presently has an average rating of "Hold" and an average price target of $80.25.

Insider Buying and Selling at Cogent Communications

In other news, Director Sheryl Lynn Kennedy sold 1,350 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.58, for a total transaction of $108,783.00. Following the completion of the sale, the director now owns 10,318 shares in the company, valued at approximately $831,424.44. The trade was a 11.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the transaction, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,016 shares of company stock valued at $1,116,135. Corporate insiders own 11.40% of the company's stock.

Cogent Communications Trading Up 1.3 %

CCOI stock traded up $1.10 during trading on Monday, reaching $83.29. The company had a trading volume of 357,644 shares, compared to its average volume of 438,687. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The business has a 50 day moving average of $80.34 and a 200 day moving average of $69.62. The company has a market cap of $4.08 billion, a P/E ratio of 105.37 and a beta of 0.40. 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, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. The business had revenue of $257.20 million for the quarter, compared to analysts' expectations of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company's revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted ($1.13) EPS. As a group, sell-side analysts forecast that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.995 per share. This represents a $3.98 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, November 22nd. This is a boost from Cogent Communications's previous quarterly dividend of $0.99. Cogent Communications's dividend payout ratio (DPR) is 510.26%.

Cogent Communications 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.