14B Captial Management LP Has $17.24 Million Stock Holdings in Cogent Communications Holdings, Inc. $CCOI

14B Captial Management LP lessened its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,633 shares of the technology company’s stock after selling 54,367 shares during the quarter. Cogent Communications accounts for approximately 10.1% of 14B Captial Management LP’s investment portfolio, making the stock its 6th biggest holding. 14B Captial Management LP owned 0.92% of Cogent Communications worth $17,243,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CCOI. Vanguard Group Inc. lifted its stake in Cogent Communications by 5.3% in the third quarter. Vanguard Group Inc. now owns 5,362,821 shares of the technology company’s stock valued at $205,664,000 after acquiring an additional 270,975 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Cogent Communications by 30.1% during the 3rd quarter. ProShare Advisors LLC now owns 177,113 shares of the technology company’s stock worth $6,792,000 after purchasing an additional 40,970 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cogent Communications by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,060,367 shares of the technology company’s stock valued at $51,127,000 after purchasing an additional 20,055 shares during the period. Ceredex Value Advisors LLC raised its holdings in shares of Cogent Communications by 44.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 206,800 shares of the technology company’s stock valued at $9,970,000 after purchasing an additional 63,750 shares during the period. Finally, Arvin Capital Management LP acquired a new stake in Cogent Communications in the 3rd quarter valued at about $2,301,000. Institutional investors own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $23.35, for a total value of $56,040.00. Following the completion of the sale, the vice president owned 41,000 shares of the company’s stock, valued at approximately $957,350. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 2,206 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $23.03, for a total transaction of $50,804.18. Following the completion of the transaction, the director owned 20,449 shares in the company, valued at $470,940.47. This trade represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,756 shares of company stock worth $292,467 over the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Williams Trading set a $40.00 price target on Cogent Communications in a report on Monday, February 23rd. Oppenheimer cut their price objective on Cogent Communications from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company reduced their target price on Cogent Communications from $27.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. TD Cowen reissued a “buy” rating on shares of Cogent Communications in a report on Monday, February 23rd. Finally, KeyCorp cut their price target on Cogent Communications from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.78.

Cogent Communications Trading Down 4.2%

Shares of CCOI stock opened at $18.80 on Friday. Cogent Communications Holdings, Inc. has a 12-month low of $15.96 and a 12-month high of $71.55. The company has a market capitalization of $941.13 million, a PE ratio of -4.93 and a beta of 0.84. The firm has a 50 day moving average price of $22.99 and a two-hundred day moving average price of $28.43. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 49.06.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Friday, February 20th. The technology company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.45. The company had revenue of $240.52 million for the quarter, compared to analyst estimates of $243.82 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 18.67%.The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.91) earnings per share. As a group, analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, March 6th. This represents a $0.08 annualized dividend and a yield of 0.4%. Cogent Communications’s dividend payout ratio (DPR) is presently -2.10%.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.