Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,202 shares of the technology company’s stock after selling 2,852 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of Cogent Communications worth $10,340,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CCOI. Blue Trust Inc. raised its stake in shares of Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in 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 buying an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after buying an additional 441 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Cogent Communications in the 3rd quarter worth approximately $46,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Cogent Communications by 207.0% in the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock valued at $50,000 after acquiring an additional 445 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Insiders Place Their Bets

In other news, Director Blake Bath sold 6,220 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $83.69, for a total value of $520,551.80. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $836,900. This represents a 38.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 846 shares of Cogent Communications stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.76, for a total value of $69,168.96. Following the sale, the director now directly owns 18,354 shares of the company’s stock, valued at approximately $1,500,623.04. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,816 shares of company stock worth $1,530,087. 11.40% of the stock is currently owned by company insiders.

Cogent Communications Stock Performance

Shares of CCOI opened at $78.15 on Monday. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company has a 50-day moving average of $80.92 and a two-hundred day moving average of $70.37. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 100.19 and a beta of 0.39.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. During the same quarter last year, the business posted ($1.13) EPS. The company’s revenue was down 6.6% on a year-over-year basis. On average, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.53 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.995 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a yield of 5.09%. The ex-dividend date was Friday, November 22nd. Cogent Communications’s dividend payout ratio is currently 510.26%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group began coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. The Goldman Sachs Group raised their target price on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a research report on Tuesday, September 3rd. Citigroup raised their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $80.25.

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.