Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Purchased by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC increased its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 76.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,311 shares of the technology company's stock after purchasing an additional 14,847 shares during the period. Cogent Communications accounts for about 1.2% of Taylor Frigon Capital Management LLC's holdings, making the stock its 28th biggest holding. Taylor Frigon Capital Management LLC owned approximately 0.07% of Cogent Communications worth $2,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new stake in Cogent Communications during the fourth quarter worth about $46,000. Itau Unibanco Holding S.A. increased its position in shares of Cogent Communications by 58.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock valued at $48,000 after acquiring an additional 229 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Cogent Communications by 35.4% during the first quarter. GAMMA Investing LLC now owns 1,047 shares of the technology company's stock valued at $64,000 after acquiring an additional 274 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Cogent Communications by 132.1% during the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after acquiring an additional 498 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Cogent Communications by 212.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company's stock valued at $113,000 after acquiring an additional 1,015 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Cogent Communications Trading Up 0.1%

NASDAQ CCOI opened at $48.20 on Monday. The firm has a 50 day simple moving average of $49.63 and a 200-day simple moving average of $63.40. The company has a debt-to-equity ratio of 13.89, a quick ratio of 1.49 and a current ratio of 1.49. Cogent Communications Holdings, Inc. has a one year low of $43.65 and a one year high of $86.76. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -12.02 and a beta of 0.72.

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 analysts' consensus estimates of ($1.05) by ($0.04). Cogent Communications had a negative return on equity of 70.29% and a negative net margin of 18.76%. The firm had revenue of $247.05 million during the quarter, compared to analysts' expectations of $250.81 million. During the same quarter in the prior year, the firm earned ($1.38) EPS. The firm's revenue was down 7.2% compared to the same quarter last year. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Thursday, May 22nd were paid a $1.01 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a yield of 8.38%. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's payout ratio is currently -100.75%.

Insider Buying and Selling

In related news, CEO Dave Schaeffer sold 25,000 shares of Cogent Communications stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $46.27, for a total value of $1,156,750.00. Following the completion of the transaction, the chief executive officer now owns 4,176,721 shares in the company, valued at $193,256,880.67. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $48.04, for a total transaction of $235,396.00. Following the completion of the transaction, the chief financial officer now owns 98,000 shares of the company's stock, valued at $4,707,920. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 445,500 shares of company stock worth $21,285,069 over the last 90 days. 10.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, UBS Group dropped their price target on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $75.75.

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.

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