Emerald Advisers LLC Sells 9,262 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Emerald Advisers LLC trimmed its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 232,272 shares of the technology company's stock after selling 9,262 shares during the quarter. Emerald Advisers LLC owned approximately 0.47% of Cogent Communications worth $14,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in shares of Cogent Communications in the 4th quarter valued at about $46,000. Itau Unibanco Holding S.A. raised its holdings in shares of Cogent Communications by 58.9% in the 4th 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 during the period. GAMMA Investing LLC raised its holdings in shares of Cogent Communications by 35.4% in the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the technology company's stock valued at $64,000 after purchasing an additional 274 shares during the period. Jones Financial Companies Lllp grew its stake in Cogent Communications by 132.1% in the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after buying an additional 498 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Cogent Communications in the 4th quarter valued at about $186,000. 92.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group decreased their price target on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group decreased their target price on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Cogent Communications presently has a consensus rating of "Hold" and an average price target of $75.75.

Insider Transactions at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 70,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $47.11, for a total value of $3,297,700.00. Following the sale, the chief executive officer owned 3,356,721 shares in the company, valued at $158,135,126.31. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lewis H. Ferguson sold 1,100 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $47.57, for a total transaction of $52,327.00. Following the completion of the sale, the director owned 18,904 shares in the company, valued at $899,263.28. This represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,500 shares of company stock valued at $21,285,069. Corporate insiders own 10.20% of the company's stock.

Cogent Communications Price Performance

Shares of CCOI traded up $2.04 during midday trading on Wednesday, hitting $52.29. The company's stock had a trading volume of 677,341 shares, compared to its average volume of 502,469. Cogent Communications Holdings, Inc. has a one year low of $43.65 and a one year high of $86.76. The company's fifty day simple moving average is $48.67 and its two-hundred day simple moving average is $61.33. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 13.89. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -13.04 and a beta of 0.73.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.04). Cogent Communications had a negative net margin of 18.76% and a negative return on equity of 70.29%. The business had revenue of $247.05 million during the quarter, compared to the consensus estimate of $250.81 million. During the same quarter in the previous year, the business posted ($1.38) EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. As a group, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd were given a $1.01 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a yield of 7.73%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's dividend payout ratio (DPR) is currently -100.75%.

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.