Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Xponance Inc.

Xponance Inc. reduced its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 40.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,661 shares of the technology company’s stock after selling 1,788 shares during the quarter. Xponance Inc.’s holdings in Cogent Communications were worth $202,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CCOI. EverSource Wealth Advisors LLC increased its position in Cogent Communications by 895.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock valued at $25,000 after buying an additional 358 shares in the last quarter. Strs Ohio increased its position in Cogent Communications by 20.0% during the 3rd quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock valued at $111,000 after buying an additional 300 shares in the last quarter. CI Investments Inc. acquired a new position in Cogent Communications during the 3rd quarter valued at about $142,000. Fifth Third Bancorp increased its position in Cogent Communications by 56.7% during the 4th quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock valued at $154,000 after buying an additional 733 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Cogent Communications in the fourth quarter valued at about $202,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $76.62, for a total transaction of $147,110.40. Following the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cogent Communications news, CEO Dave Schaeffer sold 26,174 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the transaction, the chief executive officer now owns 4,653,203 shares in the company, valued at $298,782,164.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total value of $147,110.40. Following the transaction, the executive now directly owns 54,822 shares of the company’s stock, valued at approximately $4,200,461.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,320 shares of company stock worth $4,669,997. 11.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $75.00 in a report on Thursday, March 7th. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a report on Thursday, February 29th. TD Cowen increased their price objective on Cogent Communications from $81.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, March 1st. KeyCorp increased their price objective on Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, StockNews.com lowered Cogent Communications from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Cogent Communications currently has a consensus rating of “Hold” and an average price target of $77.57.

Cogent Communications Stock Up 1.3 %

Shares of CCOI opened at $65.79 on Monday. Cogent Communications Holdings, Inc. has a 52 week low of $57.35 and a 52 week high of $86.00. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 2.46 and a beta of 0.39. The stock’s 50-day moving average price is $67.72 and its 200-day moving average price is $69.52.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.79. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. The firm had revenue of $272.10 million for the quarter, compared to the consensus estimate of $275.82 million. On average, sell-side analysts predict that Cogent Communications Holdings, Inc. will post -3.35 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Friday, March 15th were given a dividend of $0.965 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.86 dividend on an annualized basis and a yield of 5.87%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s dividend payout ratio is currently 14.43%.

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.