Broad Run Investment Management LLC Decreases Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Broad Run Investment Management LLC trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 700,343 shares of the technology company's stock after selling 6,644 shares during the period. Cogent Communications comprises approximately 7.3% of Broad Run Investment Management LLC's portfolio, making the stock its 5th biggest holding. Broad Run Investment Management LLC owned about 1.43% of Cogent Communications worth $53,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CCOI. Hillsdale Investment Management Inc. acquired a new position in Cogent Communications during the fourth quarter worth $46,000. Blue Trust Inc. lifted its holdings in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after purchasing an additional 218 shares during the last quarter. BankPlus Trust Department bought a new stake in Cogent Communications during the fourth quarter worth approximately $63,000. Jones Financial Companies Lllp grew its holdings in Cogent Communications by 132.1% during the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after purchasing an additional 498 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Cogent Communications by 212.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company's stock worth $113,000 after buying an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company's stock.

Analyst Upgrades and Downgrades

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

Cogent Communications Stock Performance

NASDAQ CCOI traded up $1.56 during midday trading on Friday, hitting $56.27. The company had a trading volume of 259,086 shares, compared to its average volume of 459,862. The firm has a fifty day simple moving average of $61.67 and a two-hundred day simple moving average of $72.82. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 72.15 and a beta of 0.69. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a fifty-two week low of $47.54 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.31. The firm 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%. Equities analysts forecast 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 announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a dividend of $1.005 per share. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications's payout ratio is -93.49%.

Insider Activity at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the transaction, the vice president now directly owns 41,000 shares of the company's stock, valued at approximately $2,975,370. This trade represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lewis H. Ferguson sold 956 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 18,652 shares in the company, valued at approximately $1,293,702.72. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,681 shares of company stock valued at $840,878 over the last quarter. 11.40% of the stock is owned by company insiders.

Cogent Communications 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.