Cogent Communications Holdings, Inc. (NASDAQ:CCOI) is DigitalBridge Group Inc.'s 3rd Largest Position

DigitalBridge Group Inc. boosted its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 246.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 907,916 shares of the technology company's stock after purchasing an additional 645,521 shares during the quarter. Cogent Communications comprises 5.0% of DigitalBridge Group Inc.'s portfolio, making the stock its 3rd biggest holding. DigitalBridge Group Inc. owned 1.85% of Cogent Communications worth $69,973,000 as of its most recent SEC filing.

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

Cogent Communications Stock Down 1.7 %

Shares of CCOI opened at $55.09 on Wednesday. The firm has a fifty day moving average price of $60.38 and a 200-day moving average price of $72.16. 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 firm has a market capitalization of $2.72 billion, a P/E ratio of 70.62 and a beta of 0.76. 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 released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 3.73% and a negative return on equity of 36.31%. Equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications's dividend payout ratio (DPR) is presently -93.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cogent Communications has a consensus rating of "Hold" and a consensus price target of $80.25.

Insider Buying and Selling at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of the business'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 completion of the sale, the vice president now owns 41,000 shares in the company, valued at approximately $2,975,370. The trade was a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $103,968.00. Following the transaction, the director now owns 10,147 shares in the company, 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. Insiders sold a total of 11,681 shares of company stock valued at $840,878 in the last ninety days. Corporate insiders own 11.40% of the company's stock.

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.

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