Dimensional Fund Advisors LP Grows Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Dimensional Fund Advisors LP grew its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 37.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 185,992 shares of the technology company's stock after acquiring an additional 50,370 shares during the period. Dimensional Fund Advisors LP owned about 0.38% of Cogent Communications worth $14,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CCOI. First Trust Advisors LP grew its stake in shares of Cogent Communications by 17.2% in the 4th quarter. First Trust Advisors LP now owns 256,871 shares of the technology company's stock worth $19,797,000 after buying an additional 37,708 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake 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 buying an additional 156 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Cogent Communications by 39.7% in the 4th quarter. NewEdge Advisors LLC now owns 17,874 shares of the technology company's stock worth $1,378,000 after buying an additional 5,075 shares during the last quarter. Guggenheim Capital LLC grew 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 worth $1,862,000 after buying an additional 3,032 shares during the last quarter. Finally, Harber Asset Management LLC grew its stake in shares of Cogent Communications by 1.4% in the 4th quarter. Harber Asset Management LLC now owns 66,041 shares of the technology company's stock worth $5,090,000 after buying an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Cogent Communications Stock Up 3.3%

Cogent Communications stock traded up $1.61 during mid-day trading on Monday, reaching $50.54. 709,005 shares of the company were exchanged, compared to its average volume of 471,017. The business has a fifty day moving average of $59.10 and a 200 day moving average of $71.41. 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 firm has a market cap of $2.50 billion, a P/E ratio of 64.79 and a beta of 0.76. Cogent Communications Holdings, Inc. has a 12-month low of $45.00 and a 12-month high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.04). The company had revenue of $247.05 million for the quarter, compared to analysts' expectations of $250.81 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.38) EPS. Research analysts anticipate 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 will be paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.01 per share. The ex-dividend date is Thursday, May 22nd. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. This represents a $4.04 dividend on an annualized basis and a dividend yield of 7.99%. Cogent Communications's dividend payout ratio is presently -100.75%.

Insider Transactions at Cogent Communications

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.96, for a total transaction of $103,968.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54% 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 valued at $840,878. Corporate insiders own 11.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCOI. UBS Group lowered their price objective on Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday. The Goldman Sachs Group dropped their price target on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday. Finally, StockNews.com upgraded Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cogent Communications has an average rating of "Hold" and an average price target of $75.75.

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.