Pathstone Family Office LLC Purchases 5,337 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Pathstone Family Office LLC grew its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) by 60.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,197 shares of the technology company’s stock after acquiring an additional 5,337 shares during the quarter. Pathstone Family Office LLC’s holdings in Cogent Communications were worth $740,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Petrus Trust Company LTA acquired a new stake in Cogent Communications in the 3rd quarter worth about $220,000. Marshall Wace LLP increased its stake in Cogent Communications by 41.4% during the 3rd quarter. Marshall Wace LLP now owns 33,978 shares of the technology company’s stock worth $1,772,000 after acquiring an additional 9,953 shares during the period. Martingale Asset Management L P raised its holdings in Cogent Communications by 4.9% in the 3rd quarter. Martingale Asset Management L P now owns 31,869 shares of the technology company’s stock valued at $1,663,000 after acquiring an additional 1,501 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Cogent Communications by 39.8% during the 3rd quarter. First Trust Advisors LP now owns 202,702 shares of the technology company’s stock valued at $10,573,000 after acquiring an additional 57,666 shares during the period. Finally, Frontier Capital Management Co. LLC bought a new position in shares of Cogent Communications in the third quarter worth $5,887,000. Institutional investors own 85.15% of the company’s stock.

Cogent Communications Trading Up 0.1 %

NASDAQ CCOI opened at $61.05 on Tuesday. The firm has a market capitalization of $2.95 billion, a P/E ratio of 555.05, a PEG ratio of 1.87 and a beta of 0.44. The business has a fifty day simple moving average of $65.04 and a 200 day simple moving average of $58.18. Cogent Communications Holdings, Inc. has a 12 month low of $46.75 and a 12 month high of $72.21.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a dividend of $0.925 per share. The ex-dividend date is Thursday, March 9th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.92. This represents a $3.70 annualized dividend and a dividend yield of 6.06%. Cogent Communications’s dividend payout ratio (DPR) is currently 3,363.94%.

Wall Street Analyst Weigh In

CCOI has been the topic of a number of analyst reports. Moffett Nathanson increased their price objective on shares of Cogent Communications to $93.00 in a research note on Thursday, November 17th. Royal Bank of Canada boosted their price objective on shares of Cogent Communications from $61.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, March 7th. Credit Suisse Group raised their target price 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. Finally, KeyCorp lifted their target price on Cogent Communications from $64.00 to $71.00 in a research report on Tuesday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.13.

Insider Activity

In other news, insider John B. Chang sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $64.00, for a total transaction of $96,000.00. Following the completion of the sale, the insider now directly owns 51,360 shares of the company’s stock, valued at approximately $3,287,040. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John B. Chang sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $64.00, for a total transaction of $96,000.00. Following the completion of the sale, the insider now directly owns 51,360 shares of the company’s stock, valued at approximately $3,287,040. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $63.51, for a total value of $152,424.00. Following the sale, the vice president now directly owns 36,000 shares of the company’s stock, valued at $2,286,360. The disclosure for this sale can be found here. Insiders sold a total of 14,770 shares of company stock valued at $961,096 in the last ninety days. 11.00% of the stock is currently owned by insiders.

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.