52,879 Shares in Cogent Communications Holdings, Inc. $CCOI Bought by Caxton Associates LLP

Caxton Associates LLP bought a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 52,879 shares of the technology company’s stock, valued at approximately $996,000. Caxton Associates LLP owned approximately 0.11% of Cogent Communications at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Cogent Communications by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 5,580,271 shares of the technology company’s stock worth $120,311,000 after buying an additional 217,450 shares during the last quarter. Turtle Creek Asset Management Inc. increased its position in shares of Cogent Communications by 64.9% in the third quarter. Turtle Creek Asset Management Inc. now owns 4,603,933 shares of the technology company’s stock valued at $176,561,000 after acquiring an additional 1,811,222 shares during the last quarter. State Street Corp increased its position in shares of Cogent Communications by 6.8% in the fourth quarter. State Street Corp now owns 2,070,132 shares of the technology company’s stock valued at $44,632,000 after acquiring an additional 132,454 shares during the last quarter. Park West Asset Management LLC bought a new stake in Cogent Communications during the fourth quarter worth about $30,380,000. Finally, Invesco Ltd. raised its holdings in Cogent Communications by 39.8% during the third quarter. Invesco Ltd. now owns 1,402,612 shares of the technology company’s stock worth $53,790,000 after acquiring an additional 399,339 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.01, for a total value of $40,824.00. Following the sale, the vice president owned 38,600 shares in the company, valued at approximately $656,586. This represents a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total value of $81,431.50. Following the sale, the chief financial officer directly owned 197,900 shares of the company’s stock, valued at $3,322,741. This represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

CCOI has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $22.00 price target on shares of Cogent Communications in a research note on Friday, May 29th. TD Cowen reiterated a “buy” rating on shares of Cogent Communications in a research note on Monday, June 22nd. Wall Street Zen raised Cogent Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Royal Bank Of Canada decreased their target price on shares of Cogent Communications from $22.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their target price on shares of Cogent Communications from $23.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.90.

Cogent Communications News Summary

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Shares could eventually benefit if the lawsuits are dismissed or resolved without major financial impact, reducing legal overhang. CCOI Investors Have Opportunity to Lead Cogent Communications Holdings, Inc. Securities Fraud Lawsuit with the Schall Law Firm
• Neutral Sentiment: Analysts’ FY2028 earnings forecasts were also mentioned, but no specific estimate details were provided in the available snippet, so the stock impact is unclear. Equities Analysts Offer Predictions for CCOI FY2028 Earnings
• Negative Sentiment: Multiple law firms announced or reminded investors about class action lawsuits covering Cogent shares bought between Feb. 29, 2024 and May 1-2, 2026, increasing legal uncertainty and sentiment pressure on the stock. Rosen Law Firm Urges Cogent Communications Holdings, Inc. (NASDAQ: CCOI) Stockholders with Large Losses to Contact the Firm for Information About Their Rights
• Negative Sentiment: Additional alerts repeated allegations of securities fraud tied to alleged undisclosed demand and backlog problems, suggesting the prior stock drop may have been driven by weaker-than-expected business trends and disclosure concerns. Cogent Communications Holdings Securities Fraud Class Action Result of Undisclosed Demand and Backlog Issues and approximately 29% Stock Decline
• Negative Sentiment: Several other firms, including Robbins LLP, Kaplan Fox, BFA Law, and KSF, issued similar class-action notices and lead-plaintiff reminders, reinforcing the negative news flow around CCOI. Investor Notice: Robbins LLP Informs Investors of the Cogent Communications Holdings, Inc. Class Action Lawsuit

Cogent Communications Stock Performance

Shares of NASDAQ:CCOI opened at $11.87 on Monday. Cogent Communications Holdings, Inc. has a 52-week low of $10.93 and a 52-week high of $49.38. The company has a market capitalization of $594.45 million, a P/E ratio of -3.34 and a beta of 0.80. The company has a 50-day simple moving average of $14.93 and a 200 day simple moving average of $19.26.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Monday, May 4th. The technology company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.20. The firm had revenue of $239.19 million for the quarter, compared to the consensus estimate of $241.31 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.09) earnings per share. As a group, equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.25 earnings per share for the current year.

Cogent Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.7%. Cogent Communications’s payout ratio is presently -2.25%.

About Cogent Communications

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.