Schechter Investment Advisors LLC Has $460,000 Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Schechter Investment Advisors LLC cut its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOIFree Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,047 shares of the technology company’s stock after selling 364 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Cogent Communications were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCOI. EverSource Wealth Advisors LLC grew its position in Cogent Communications by 895.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock worth $25,000 after purchasing an additional 358 shares during the last quarter. 1832 Asset Management L.P. grew its position in Cogent Communications by 70.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 408 shares of the technology company’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in Cogent Communications in the 4th quarter worth $28,000. Belpointe Asset Management LLC grew its position in Cogent Communications by 68.5% in the 1st quarter. Belpointe Asset Management LLC now owns 1,289 shares of the technology company’s stock worth $82,000 after purchasing an additional 524 shares during the last quarter. Finally, Strs Ohio grew its position in Cogent Communications by 20.0% in the 3rd quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after purchasing an additional 300 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the sale, the executive now owns 54,822 shares of the company’s stock, valued at $4,200,461.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dave Schaeffer sold 8,826 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $72.55, for a total transaction of $640,326.30. Following the transaction, the chief executive officer now owns 4,815,764 shares of the company’s stock, valued at approximately $349,383,678.20. The disclosure for this sale can be found here. Insiders sold 69,320 shares of company stock valued at $4,669,997 over the last quarter. Corporate insiders own 11.40% of the company’s stock.

Wall Street Analyst Weigh In

CCOI has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Bank of America downgraded shares of Cogent Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $75.00 in a report on Thursday, March 7th. KeyCorp raised their price objective on shares of Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. TD Cowen raised their price objective on shares of Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Finally, StockNews.com downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.57.

View Our Latest Report on CCOI

Cogent Communications Trading Up 0.8 %

CCOI opened at $65.33 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 2.44 and a beta of 0.41. The firm has a 50 day simple moving average of $72.77 and a 200 day simple moving average of $69.51. Cogent Communications Holdings, Inc. has a fifty-two week low of $57.35 and a fifty-two week high of $86.00.

Cogent Communications (NASDAQ:CCOIGet Free Report) last issued its earnings results on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.79. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. The firm had revenue of $272.10 million during the quarter, compared to the consensus estimate of $275.82 million. On average, sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -3.32 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th will be given a dividend of $0.965 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.86 annualized dividend and a dividend yield of 5.91%. Cogent Communications’s dividend payout ratio is currently 14.43%.

About Cogent Communications

(Free Report)

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.

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

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