Steward Partners Investment Advisory LLC Raises Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Steward Partners Investment Advisory LLC grew its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 38,227.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,327 shares of the technology company's stock after buying an additional 38,227 shares during the quarter. Steward Partners Investment Advisory LLC owned 0.08% of Cogent Communications worth $2,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC grew its holdings in Cogent Communications by 85.7% during the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock worth $1,284,000 after acquiring an additional 7,803 shares in the last quarter. Consolidated Planning Corp bought a new position in shares of Cogent Communications during the third quarter valued at approximately $630,000. PEAK6 Investments LLC purchased a new position in Cogent Communications during the third quarter valued at approximately $1,720,000. Citigroup Inc. raised its stake in Cogent Communications by 56.8% in the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock worth $4,297,000 after buying an additional 20,510 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in Cogent Communications by 136.5% in the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock worth $11,025,000 after buying an additional 83,816 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

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Analyst Ratings Changes

CCOI has been the topic of a number of analyst reports. StockNews.com upgraded Cogent Communications to a "sell" rating in a report on Monday, March 3rd. UBS Group initiated coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a "buy" rating and a $102.00 target price on the stock. Two equities 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 company's stock. According to MarketBeat, Cogent Communications presently has a consensus rating of "Hold" and an average target price of $80.25.

Cogent Communications Stock Performance

Shares of Cogent Communications stock traded up $0.30 during midday trading on Tuesday, hitting $69.93. The company had a trading volume of 327,981 shares, compared to its average volume of 371,254. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 89.65 and a beta of 0.45. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The company has a fifty day simple moving average of $76.04 and a 200 day simple moving average of $76.99.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $258.49 million. As a group, analysts predict that Cogent Communications Holdings, Inc. will post -4.55 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, March 28th. Investors of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio (DPR) is -93.49%.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 2,000 shares of Cogent Communications stock in a transaction on Tuesday, March 4th. The shares were 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 approximately $4,095,367.14. The trade was a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the 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 in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,525 shares of company stock valued at $1,137,498. 11.40% of the stock is owned by insiders.

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.