Proficio Capital Partners LLC Takes $3 Million Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Proficio Capital Partners LLC acquired a new position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 38,929 shares of the technology company's stock, valued at approximately $3,000,000. Proficio Capital Partners LLC owned 0.08% of Cogent Communications as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Cogent Communications during the 3rd quarter valued at about $30,000. Quest Partners LLC bought a new position in shares of Cogent Communications during the 3rd quarter valued at about $46,000. Blue Trust Inc. boosted its position in shares of Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after purchasing an additional 218 shares in the last quarter. BankPlus Trust Department bought a new position in shares of Cogent Communications during the 4th quarter valued at 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 valued at $67,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two research 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $80.25.

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Cogent Communications Trading Down 1.0 %

Shares of CCOI traded down $0.66 during midday trading on Friday, hitting $68.31. The stock had a trading volume of 835,471 shares, compared to its average volume of 421,077. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market cap of $3.35 billion, a P/E ratio of 87.58 and a beta of 0.45. The business has a 50-day simple moving average of $75.07 and a two-hundred day simple moving average of $76.79. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS 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 analysts' expectations of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. As a group, equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.88%. The ex-dividend date is Thursday, March 13th. Cogent Communications's dividend payout ratio (DPR) is currently -93.49%.

Insider Buying and Selling

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now owns 103,000 shares of the company's stock, valued at approximately $7,422,180. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the firm'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 transaction of $103,968.00. Following the transaction, the director now directly owns 10,147 shares in the company, valued at approximately $740,325.12. The trade was a 12.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,681 shares of company stock worth $840,878. 11.40% of the stock is owned by company 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.