SG Americas Securities LLC Purchases 60,428 Shares of Cogent Communications Holdings, Inc. $CCOI

SG Americas Securities LLC boosted its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 795.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,025 shares of the technology company’s stock after buying an additional 60,428 shares during the quarter. SG Americas Securities LLC owned approximately 0.14% of Cogent Communications worth $1,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Cogent Communications in the third quarter valued at about $27,000. GAMMA Investing LLC raised its stake in shares of Cogent Communications by 466.9% during the fourth quarter. GAMMA Investing LLC now owns 2,262 shares of the technology company’s stock valued at $49,000 after acquiring an additional 1,863 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Cogent Communications by 80.5% during the third quarter. Farther Finance Advisors LLC now owns 1,336 shares of the technology company’s stock worth $51,000 after purchasing an additional 596 shares during the period. Versant Capital Management Inc grew its stake in shares of Cogent Communications by 333.7% in the third quarter. Versant Capital Management Inc now owns 1,557 shares of the technology company’s stock worth $60,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Cogent Communications in the third quarter worth about $79,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company lowered their price target on Cogent Communications from $27.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. Oppenheimer cut their price objective on Cogent Communications from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. TD Cowen reissued a “buy” rating on shares of Cogent Communications in a research note on Monday, February 23rd. Williams Trading set a $40.00 price target on Cogent Communications in a research note on Monday, February 23rd. Finally, KeyCorp cut their price target on shares of Cogent Communications from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.67.

Cogent Communications Price Performance

Shares of CCOI opened at $19.22 on Tuesday. Cogent Communications Holdings, Inc. has a one year low of $15.96 and a one year high of $56.88. The company has a 50-day simple moving average of $21.63 and a two-hundred day simple moving average of $26.31. The firm has a market capitalization of $962.15 million, a PE ratio of -5.04 and a beta of 0.77.

Cogent Communications (NASDAQ:CCOI) last posted 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. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 18.67%.The firm had revenue of $240.52 million for the quarter, compared to the consensus estimate of $243.82 million. During the same quarter in the prior year, the business earned ($0.91) EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, March 6th. Cogent Communications’s dividend payout ratio 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.