Emerald Mutual Fund Advisers Trust Lowers Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Emerald Mutual Fund Advisers Trust trimmed its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,344 shares of the technology company's stock after selling 34,594 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.29% of Cogent Communications worth $11,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CCOI. Vanguard Group Inc. lifted its holdings in Cogent Communications by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company's stock valued at $394,182,000 after acquiring an additional 43,523 shares during the period. Hood River Capital Management LLC lifted its stake in shares of Cogent Communications by 21.8% in the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company's stock worth $110,738,000 after purchasing an additional 257,383 shares during the period. Reaves W H & Co. Inc. boosted its holdings in shares of Cogent Communications by 17.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company's stock worth $53,835,000 after buying an additional 101,956 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cogent Communications during the fourth quarter valued at approximately $39,845,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Cogent Communications by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,344 shares of the technology company's stock valued at $39,255,000 after buying an additional 11,858 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Cogent Communications Price Performance

CCOI stock traded up $1.75 during trading on Friday, reaching $56.46. The company's stock had a trading volume of 582,862 shares, compared to its average volume of 461,142. Cogent Communications Holdings, Inc. has a 1 year low of $47.54 and a 1 year high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $2.79 billion, a P/E ratio of 72.38 and a beta of 0.69. The company's fifty day moving average is $61.21 and its 200-day moving average is $72.48.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. On average, research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal 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 paid a $1.005 dividend. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 7.12%. Cogent Communications's payout ratio is presently -93.49%.

Analysts Set New Price Targets

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

Insider Activity at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now owns 103,000 shares of the company's stock, valued at approximately $7,422,180. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now owns 10,147 shares of the company's stock, valued at approximately $740,325.12. This trade represents a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is owned by corporate 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.