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

Proficio Capital Partners LLC acquired a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the 4th quarter, according to its most recent 13F filing 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC raised its position in shares of Cogent Communications by 85.7% during the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock valued at $1,284,000 after purchasing an additional 7,803 shares during the period. Consolidated Planning Corp bought a new stake in shares of Cogent Communications during the 3rd quarter valued at $630,000. PEAK6 Investments LLC bought a new stake in shares of Cogent Communications during the 3rd quarter valued at $1,720,000. Citigroup Inc. raised its position in shares of Cogent Communications by 56.8% during the 3rd quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock valued at $4,297,000 after purchasing an additional 20,510 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of Cogent Communications by 136.5% during the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock valued at $11,025,000 after purchasing an additional 83,816 shares during the period. 92.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CCOI shares. UBS Group assumed coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They set a "buy" rating and a $102.00 price objective on the stock. StockNews.com upgraded shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $80.25.

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Cogent Communications Price Performance

Shares of NASDAQ:CCOI traded up $0.69 on Friday, reaching $71.59. The company's stock had a trading volume of 395,612 shares, compared to its average volume of 370,378. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The company has a market cap of $3.53 billion, a P/E ratio of 91.78 and a beta of 0.45. The company has a 50-day simple moving average of $76.16 and a 200 day simple moving average of $76.98. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $258.49 million. As a group, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.62%. Cogent Communications's payout ratio is currently -93.49%.

Insider Buying and Selling

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,900 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO James Bubeck sold 2,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total transaction of $143,340.00. Following the completion of the sale, the executive now directly owns 57,142 shares of the company's stock, valued at approximately $4,095,367.14. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,045 shares of company stock valued at $1,110,402. Company insiders own 11.40% of the company's stock.

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.