3,503 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Bought by Walleye Capital LLC

Walleye Capital LLC bought a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOIGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,503 shares of the technology company’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC grew its position in Cogent Communications by 70.8% during the second quarter. McIlrath & Eck LLC now owns 468 shares of the technology company’s stock valued at $28,000 after buying an additional 194 shares during the period. Exchange Traded Concepts LLC grew its position in Cogent Communications by 2.1% during the second quarter. Exchange Traded Concepts LLC now owns 10,484 shares of the technology company’s stock valued at $637,000 after buying an additional 220 shares during the period. Victory Capital Management Inc. grew its position in Cogent Communications by 2.7% during the second quarter. Victory Capital Management Inc. now owns 9,657 shares of the technology company’s stock valued at $587,000 after buying an additional 253 shares during the period. Van ECK Associates Corp grew its position in Cogent Communications by 3.6% during the second quarter. Van ECK Associates Corp now owns 7,333 shares of the technology company’s stock valued at $445,000 after buying an additional 255 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Cogent Communications by 3.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,797 shares of the technology company’s stock valued at $517,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com assumed coverage on shares of Cogent Communications in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada dropped their target price on shares of Cogent Communications from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 15th. Wells Fargo & Company dropped their target price on shares of Cogent Communications from $55.00 to $53.00 and set an “underweight” rating on the stock in a research report on Friday, November 4th. KeyCorp upgraded shares of Cogent Communications from a “sector weight” rating to an “overweight” rating and set a $64.00 target price on the stock in a research report on Tuesday, September 27th. Finally, Credit Suisse Group lifted their target price on shares of Cogent Communications from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.00.

Insider Transactions at Cogent Communications

In other news, VP Raymond B. Kummer sold 4,800 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $58.01, for a total value of $278,448.00. Following the transaction, the vice president now directly owns 50,400 shares of the company’s stock, valued at $2,923,704. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cogent Communications news, VP Raymond B. Kummer sold 4,800 shares of Cogent Communications stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $58.01, for a total transaction of $278,448.00. Following the transaction, the vice president now directly owns 50,400 shares of the company’s stock, valued at $2,923,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lewis H. Ferguson sold 940 shares of Cogent Communications stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $55.13, for a total transaction of $51,822.20. Following the transaction, the director now directly owns 13,471 shares in the company, valued at $742,656.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,590 shares of company stock valued at $584,168. Corporate insiders own 11.00% of the company’s stock.

Cogent Communications Trading Up 1.9 %

NASDAQ:CCOI opened at $58.25 on Friday. The company’s 50-day moving average price is $53.23 and its 200-day moving average price is $57.10. The company has a market cap of $2.80 billion, a P/E ratio of 121.36, a P/E/G ratio of 8.72 and a beta of 0.33. Cogent Communications Holdings, Inc. has a twelve month low of $46.75 and a twelve month high of $80.06.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.915 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.91. This represents a $3.66 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend is Thursday, November 17th. Cogent Communications’s dividend payout ratio (DPR) is currently 762.52%.

Cogent Communications Profile

(Get Rating)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, 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.

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Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

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