Aquatic Capital Management LLC Makes New $436,000 Investment in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Aquatic Capital Management LLC acquired a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,662 shares of the technology company's stock, valued at approximately $436,000.

A number of other large investors have also added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co raised its position in shares of Cogent Communications by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company's stock worth $4,055,000 after purchasing an additional 156 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cogent Communications by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company's stock valued at $400,000 after purchasing an additional 212 shares in the last quarter. Blue Trust Inc. raised 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 worth $47,000 after buying an additional 218 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Cogent Communications by 0.6% in the fourth quarter. Royce & Associates LP now owns 33,883 shares of the technology company's stock worth $2,611,000 after buying an additional 218 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Cogent Communications by 5.8% during the fourth quarter. Franklin Resources Inc. now owns 4,835 shares of the technology company's stock valued at $373,000 after buying an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Insider Activity at Cogent Communications

In related news, Director Sheryl Lynn Kennedy sold 1,425 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now directly owns 10,147 shares of the company's stock, valued at approximately $740,325.12. This represents a 12.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,681 shares of company stock worth $840,878. Corporate insiders own 11.40% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $80.25.

Cogent Communications Stock Performance

CCOI stock traded down $0.97 on Tuesday, hitting $55.09. The company had a trading volume of 459,749 shares, compared to its average volume of 461,613. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 70.62 and a beta of 0.76. 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's 50-day simple moving average is $60.73 and its 200 day simple moving average is $72.28. Cogent Communications Holdings, Inc. has a 12-month low of $47.54 and a 12-month high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating analysts' consensus estimates of ($1.22) by $0.31. The company had revenue of $252.29 million during the quarter, compared to analysts' expectations of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. As a group, equities research 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 declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 7.30%. The ex-dividend date was Thursday, March 13th. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio (DPR) is currently -93.49%.

Cogent Communications Company Profile

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.