Reaves W H & Co. Inc. Purchases 101,956 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Reaves W H & Co. Inc. increased its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 698,518 shares of the technology company's stock after purchasing an additional 101,956 shares during the quarter. Reaves W H & Co. Inc. owned approximately 1.42% of Cogent Communications worth $53,835,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Cogent Communications during the 3rd quarter worth approximately $30,000. Quest Partners LLC acquired a new position in Cogent Communications during the third quarter worth $46,000. Blue Trust Inc. raised its position in Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after acquiring an additional 218 shares in the last quarter. BankPlus Trust Department acquired a new stake in Cogent Communications in the fourth quarter valued at $63,000. Finally, Jones Financial Companies Lllp grew its position in shares of Cogent Communications by 132.1% in the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after acquiring an additional 498 shares during the period. Institutional investors own 92.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CCOI shares. UBS Group initiated coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 target price on the stock. StockNews.com upgraded Cogent Communications to a "sell" rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $80.25.

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Cogent Communications Stock Performance

Shares of NASDAQ:CCOI traded up $0.69 during trading on Friday, reaching $71.59. 395,612 shares of the stock were exchanged, compared to its average volume of 370,378. The firm has a market cap of $3.51 billion, a PE ratio of 91.78 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The stock has a 50-day moving average price of $76.24 and a 200-day moving average price of $77.00.

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

Cogent Communications Increases Dividend

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

Insider Buying and Selling at Cogent Communications

In related news, CRO James Bubeck sold 2,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $71.67, for a total value of $143,340.00. Following the completion of the transaction, the executive now owns 57,142 shares of the company's stock, valued at $4,095,367.14. The trade was a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares of the company's stock, valued at $7,422,180. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,045 shares of company stock valued at $1,110,402 in the last quarter. Company insiders own 11.40% of the company's stock.

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.