Cogent Communications Holdings, Inc. $CCOI Shares Sold by 14B Captial Management LP

14B Captial Management LP decreased its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 62.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,000 shares of the technology company's stock after selling 279,633 shares during the quarter. Cogent Communications comprises 2.9% of 14B Captial Management LP's holdings, making the stock its 11th biggest position. 14B Captial Management LP owned approximately 0.35% of Cogent Communications worth $3,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Park West Asset Management LLC acquired a new position in Cogent Communications during the 4th quarter valued at approximately $30,380,000. Jump Financial LLC acquired a new position in Cogent Communications during the 4th quarter valued at approximately $743,000. Price T Rowe Associates Inc. MD increased its stake in Cogent Communications by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,298 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 11,362 shares in the last quarter. Broad Run Investment Management LLC increased its stake in Cogent Communications by 3.1% during the 4th quarter. Broad Run Investment Management LLC now owns 663,700 shares of the technology company's stock valued at $14,309,000 after purchasing an additional 19,670 shares in the last quarter. Finally, MIG Capital LLC purchased a new stake in shares of Cogent Communications in the 4th quarter valued at $12,272,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Cogent Communications Stock Performance

Shares of NASDAQ CCOI opened at $14.61 on Thursday. The company's fifty day moving average price is $19.10 and its 200 day moving average price is $20.90. Cogent Communications Holdings, Inc. has a 1 year low of $14.41 and a 1 year high of $54.37. The company has a market capitalization of $731.67 million, a PE ratio of -4.12 and a beta of 0.77.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The technology company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.03) by $0.20. Cogent Communications had a negative net margin of 17.53% and a negative return on equity of 842.48%. The firm had revenue of $239.19 million for the quarter, compared to the consensus estimate of $241.31 million. During the same period in the prior year, the firm posted ($1.09) earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.25 EPS for the current year.

Cogent Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, May 18th. Cogent Communications's dividend payout ratio (DPR) is presently -2.25%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group dropped their price objective on shares of Cogent Communications from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. KeyCorp dropped their price objective on shares of Cogent Communications from $30.00 to $25.00 and set an "overweight" rating on the stock in a report on Monday, February 23rd. Wells Fargo & Company dropped their price objective on shares of Cogent Communications from $23.00 to $18.00 and set an "equal weight" rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada dropped their price objective on shares of Cogent Communications from $22.00 to $18.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 6th. Finally, TD Cowen dropped their price objective on shares of Cogent Communications from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Cogent Communications has a consensus rating of "Hold" and a consensus price target of $24.90.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.01, for a total transaction of $40,824.00. Following the transaction, the vice president directly owned 38,600 shares of the company's stock, valued at $656,586. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,850 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $16.79, for a total transaction of $81,431.50. Following the transaction, the chief financial officer directly owned 197,900 shares in the company, valued at approximately $3,322,741. The trade was a 2.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.20% of the company's stock.

Cogent Communications Profile

Cogent Communications NASDAQ: CCOI is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent's core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.

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