NewEdge Advisors LLC Grows Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

NewEdge Advisors LLC grew its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 39.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,874 shares of the technology company's stock after buying an additional 5,075 shares during the period. NewEdge Advisors LLC's holdings in Cogent Communications were worth $1,378,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CCOI. Guggenheim Capital LLC increased its stake in shares of Cogent Communications by 14.4% in the 4th quarter. Guggenheim Capital LLC now owns 24,158 shares of the technology company's stock valued at $1,862,000 after purchasing an additional 3,032 shares in the last quarter. Harber Asset Management LLC lifted its holdings in Cogent Communications by 1.4% during the fourth quarter. Harber Asset Management LLC now owns 66,041 shares of the technology company's stock valued at $5,090,000 after purchasing an additional 925 shares in the last quarter. CenterBook Partners LP raised its position in shares of Cogent Communications by 89.4% during the 4th quarter. CenterBook Partners LP now owns 39,594 shares of the technology company's stock worth $3,052,000 after purchasing an additional 18,694 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cogent Communications during the fourth quarter valued at approximately $39,845,000. Finally, Bank of Montreal Can increased its position in shares of Cogent Communications by 6.2% during the fourth quarter. Bank of Montreal Can now owns 14,432 shares of the technology company's stock worth $1,112,000 after purchasing an additional 848 shares in the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 103,000 shares of the company's stock, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.96, for a total value of $103,968.00. Following the sale, the director now directly owns 10,147 shares in the company, valued at $740,325.12. This trade represents a 12.31 % decrease in their position. 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 three months. 11.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Cogent Communications Trading Up 0.9 %

Shares of Cogent Communications stock traded up $0.48 during trading hours on Tuesday, hitting $54.10. The company's stock had a trading volume of 97,400 shares, compared to its average volume of 457,147. The firm has a fifty day moving average of $63.20 and a 200-day moving average of $73.26. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 69.35 and a beta of 0.69. Cogent Communications Holdings, Inc. has a twelve month low of $47.54 and a twelve month 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 analysts' consensus estimates of ($1.22) by $0.31. The business 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%. Research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a $1.005 dividend. This represents a $4.02 annualized dividend and a dividend yield of 7.43%. The ex-dividend date was Thursday, March 13th. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's payout ratio is currently -93.49%.

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.