Y Intercept Hong Kong Ltd Makes New $867,000 Investment in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,252 shares of the technology company's stock, valued at approximately $867,000.

Other large investors have also made changes to their positions in the company. State Street Corp raised its holdings in Cogent Communications by 1.3% in the 3rd quarter. State Street Corp now owns 1,750,810 shares of the technology company's stock valued at $132,921,000 after acquiring an additional 22,738 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Cogent Communications by 0.3% in the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company's stock valued at $117,107,000 after purchasing an additional 5,307 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Cogent Communications by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 1,039,458 shares of the technology company's stock worth $78,916,000 after buying an additional 4,197 shares during the period. Geode Capital Management LLC boosted its stake in Cogent Communications by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company's stock worth $77,021,000 after buying an additional 3,093 shares during the last quarter. Finally, FMR LLC grew its holdings in Cogent Communications by 11.0% in the 3rd quarter. FMR LLC now owns 800,758 shares of the technology company's stock valued at $60,793,000 after buying an additional 79,474 shares during the period. Institutional investors and hedge funds own 92.45% of the company's stock.

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Cogent Communications Stock Down 2.6 %

Shares of NASDAQ:CCOI traded down $1.88 during midday trading on Monday, hitting $71.19. 515,413 shares of the company's stock traded hands, compared to its average volume of 352,641. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The company has a market cap of $3.49 billion, a PE ratio of 91.27 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The firm's fifty day moving average price is $76.64 and its two-hundred day moving average price is $77.12.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.31. The company had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 represents a $4.02 dividend on an annualized basis and a dividend yield of 5.65%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio (DPR) is currently -93.49%.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on shares of Cogent Communications in a report on Thursday, November 14th. They set a "buy" rating and a $102.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $80.25.

Insider Transactions at Cogent Communications

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now owns 10,147 shares of the company's stock, valued at approximately $740,325.12. The trade was a 12.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James Bubeck sold 1,920 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.60, for a total value of $147,072.00. Following the sale, the executive now owns 49,542 shares in the company, valued at $3,794,917.20. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,145 shares of company stock valued at $613,968. Corporate 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.