Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock Holdings Trimmed by 683 Capital Management LLC

683 Capital Management LLC cut its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the technology company's stock after selling 80,000 shares during the period. Cogent Communications makes up 1.4% of 683 Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. 683 Capital Management LLC owned 0.61% of Cogent Communications worth $23,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Cogent Communications in the fourth quarter valued at $46,000. Itau Unibanco Holding S.A. increased its position in Cogent Communications by 58.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after purchasing an additional 229 shares during the last quarter. Blue Trust Inc. boosted its holdings in Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after acquiring an additional 218 shares during the last quarter. BankPlus Trust Department acquired a new stake in Cogent Communications during the 4th quarter worth approximately $63,000. Finally, Jones Financial Companies Lllp increased its position in shares of Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock worth $67,000 after acquiring an additional 498 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lewis H. Ferguson sold 956 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the completion of the transaction, the director now directly owns 18,652 shares in the company, valued at $1,293,702.72. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 $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 have sold 11,681 shares of company stock valued at $840,878 over the last quarter. Insiders own 11.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $80.25.

Cogent Communications Stock Down 1.4 %

NASDAQ CCOI traded down $0.77 on Wednesday, hitting $54.25. 173,204 shares of the stock traded hands, compared to its average volume of 461,037. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a 50-day moving average of $60.38 and a 200 day moving average of $72.16. Cogent Communications Holdings, Inc. has a twelve month low of $47.54 and a twelve month high of $86.76. The company has a market capitalization of $2.68 billion, a P/E ratio of 69.71 and a beta of 0.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping analysts' consensus estimates of ($1.22) by $0.31. The firm had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. As a group, analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $1.005 per share. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.02 annualized dividend and a yield of 7.41%. Cogent Communications's dividend payout ratio is -93.49%.

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.