Wealth Enhancement Advisory Services LLC Has $422,000 Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Wealth Enhancement Advisory Services LLC lessened its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,565 shares of the technology company’s stock after selling 606 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cogent Communications were worth $422,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC grew its position in shares of Cogent Communications by 1.1% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock worth $1,095,000 after buying an additional 202 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after acquiring an additional 226 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cogent Communications by 5.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock valued at $378,000 after purchasing an additional 262 shares during the period. Blue Trust Inc. boosted its position in shares of Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after purchasing an additional 272 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Cogent Communications by 17.2% during the first quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock worth $123,000 after purchasing an additional 276 shares during the period. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Down 1.9 %

Cogent Communications stock opened at $83.75 on Friday. The company has a fifty day simple moving average of $77.38 and a 200 day simple moving average of $67.66. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The company has a market cap of $4.10 billion, a P/E ratio of 92.03 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The business had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. During the same quarter in the previous year, the business earned ($1.13) earnings per share. Cogent Communications’s quarterly revenue was down 6.6% on a year-over-year basis. Research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a $0.995 dividend. This represents a $3.98 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Friday, November 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio is presently 432.97%.

Analyst Upgrades and Downgrades

CCOI has been the topic of several analyst reports. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and cut their target price for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. The Goldman Sachs Group lifted their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $74.00 price objective on shares of Cogent Communications in a report on Tuesday, September 3rd. TD Cowen increased their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, KeyCorp lifted their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.14.

Insider Activity at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total value of $4,369,200.00. Following the completion of the sale, the chief executive officer now owns 4,373,038 shares in the company, valued at $318,444,627.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the transaction, the vice president now owns 71,580 shares in the company, valued at approximately $5,130,138.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $72.82, for a total value of $4,369,200.00. Following the completion of the sale, the chief executive officer now owns 4,373,038 shares in the company, valued at $318,444,627.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,870 shares of company stock valued at $4,716,057. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Profile

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.