Brown Advisory Inc. Raises Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Brown Advisory Inc. increased its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,897,090 shares of the technology company's stock after acquiring an additional 368,129 shares during the quarter. Brown Advisory Inc. owned approximately 3.87% of Cogent Communications worth $146,209,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CCOI. Raymond James Financial Inc. purchased a new stake in shares of Cogent Communications during the fourth quarter worth about $39,845,000. Hood River Capital Management LLC raised its holdings in shares of Cogent Communications by 21.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company's stock valued at $110,738,000 after acquiring an additional 257,383 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cogent Communications by 45.7% during the fourth quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company's stock valued at $57,961,000 after acquiring an additional 235,842 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in shares of Cogent Communications by 8,542.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company's stock valued at $18,318,000 after acquiring an additional 234,928 shares in the last quarter. Finally, AYAL Capital Advisors Ltd purchased a new stake in shares of Cogent Communications during the fourth quarter worth approximately $7,922,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $72.57, for a total value of $174,168.00. Following the transaction, the vice president now owns 41,000 shares of the company's stock, valued at $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of Cogent Communications stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the sale, the director now owns 10,147 shares of the company's stock, valued at approximately $740,325.12. This represents a 12.31 % decrease in their ownership of the stock. 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. Insiders own 11.40% of the company's stock.

Analyst Ratings Changes

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

Cogent Communications Trading Down 3.3 %

NASDAQ CCOI traded down $1.81 on Wednesday, reaching $53.21. 766,803 shares of the company were exchanged, compared to its average volume of 463,836. 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 business's fifty day moving average price is $59.98 and its 200 day moving average price is $72.03. The stock has a market capitalization of $2.63 billion, a P/E ratio of 68.22 and a beta of 0.76. 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 announced its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $252.29 million for the quarter, compared to analysts' expectations of $258.49 million. Analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 7.55%. This is an increase 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.