Dimensional Fund Advisors LP Buys 50,370 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Dimensional Fund Advisors LP boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 37.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,992 shares of the technology company’s stock after acquiring an additional 50,370 shares during the quarter. Dimensional Fund Advisors LP owned 0.38% of Cogent Communications worth $14,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CCOI. Raymond James Financial Inc. purchased a new position in shares of Cogent Communications during the fourth quarter worth approximately $39,845,000. Bryn Mawr Capital Management LLC grew its holdings in shares of Cogent Communications by 8,542.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company’s stock valued at $18,318,000 after purchasing an additional 234,928 shares during the last quarter. Reaves W H & Co. Inc. lifted its stake in Cogent Communications by 17.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company’s stock worth $53,835,000 after purchasing an additional 101,956 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in Cogent Communications in the fourth quarter worth $7,084,000. Finally, Madison Investment Advisors LLC purchased a new stake in Cogent Communications during the fourth quarter valued at about $6,332,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Buying and Selling

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the transaction, the chief financial officer now owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $72.57, for a total value of $174,168.00. Following the completion of the sale, the vice president now directly owns 41,000 shares in the company, valued at approximately $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock worth $840,878 in the last three months. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Price Performance

Shares of CCOI stock opened at $49.28 on Friday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The firm has a market cap of $2.43 billion, a P/E ratio of 63.17 and a beta of 0.76. The business’s 50 day moving average price is $59.54 and its 200-day moving average price is $71.79. Cogent Communications Holdings, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.04). Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $247.05 million during the quarter, compared to the consensus estimate of $250.81 million. During the same quarter last year, the company posted ($1.38) earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd will be given a $1.01 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $1.01. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.20%. Cogent Communications’s dividend payout ratio is currently -93.49%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.