Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. trimmed its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) by 32.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,651 shares of the technology company’s stock after selling 10,476 shares during the period. Macquarie Group Ltd.’s holdings in Cogent Communications were worth $1,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eaton Vance Management grew its holdings in Cogent Communications by 5.5% during the third quarter. Eaton Vance Management now owns 4,606 shares of the technology company’s stock worth $240,000 after acquiring an additional 239 shares during the period. Signaturefd LLC grew its holdings in Cogent Communications by 50.8% in the third quarter. Signaturefd LLC now owns 742 shares of the technology company’s stock valued at $39,000 after purchasing an additional 250 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Cogent Communications by 48.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 838 shares of the technology company’s stock valued at $51,000 after purchasing an additional 272 shares during the period. CAPROCK Group Inc. grew its holdings in Cogent Communications by 7.9% in the third quarter. CAPROCK Group Inc. now owns 4,314 shares of the technology company’s stock valued at $225,000 after purchasing an additional 314 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Cogent Communications by 66.4% in the third quarter. Fifth Third Bancorp now owns 890 shares of the technology company’s stock valued at $46,000 after purchasing an additional 355 shares during the period. 85.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Thaddeus Gerard Weed sold 4,850 shares of Cogent Communications stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $64.30, for a total transaction of $311,855.00. Following the transaction, the chief financial officer now owns 73,250 shares in the company, valued at $4,709,975. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cogent Communications news, insider John B. Chang sold 2,000 shares of Cogent Communications stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $70.00, for a total value of $140,000.00. Following the sale, the insider now owns 47,860 shares in the company, valued at $3,350,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of Cogent Communications stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $64.30, for a total value of $311,855.00. Following the completion of the sale, the chief financial officer now owns 73,250 shares in the company, valued at approximately $4,709,975. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,170 shares of company stock worth $924,100. 11.00% of the stock is owned by corporate insiders.

Cogent Communications Stock Performance

Shares of Cogent Communications stock opened at $60.96 on Friday. Cogent Communications Holdings, Inc. has a one year low of $46.75 and a one year high of $72.21. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 554.23, a PEG ratio of 1.87 and a beta of 0.44. The business’s 50 day moving average price is $65.04 and its 200 day moving average price is $58.16.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a dividend of $0.925 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $3.70 dividend on an annualized basis and a yield of 6.07%. Cogent Communications’s dividend payout ratio (DPR) is presently 3,363.94%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Credit Suisse Group raised their price objective on Cogent Communications from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, February 24th. William Blair reissued an “outperform” rating on shares of Cogent Communications in a report on Thursday, February 23rd. Moffett Nathanson raised their price objective on Cogent Communications to $93.00 in a report on Thursday, November 17th. Royal Bank of Canada raised their target price on Cogent Communications from $61.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, March 7th. Finally, KeyCorp raised their target price on Cogent Communications from $64.00 to $71.00 in a research report on Tuesday, January 17th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.13.

Cogent Communications Profile

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Cogent Communications Holdings, Inc engages in the provision of Internet access and Internet Protocol (IP) communications solutions. It offers Internet access and data transport through its fiber optic, IP data-only network, ethernet transport, and colocation services. The company was founded by David Schaeffer in August 1999 and is headquartered in Washington, DC.