Brown Advisory Inc. Has $102.48 Million Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Brown Advisory Inc. reduced its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,671,470 shares of the technology company's stock after selling 225,620 shares during the quarter. Brown Advisory Inc. owned about 3.38% of Cogent Communications worth $102,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Cogent Communications by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company's stock worth $394,182,000 after buying an additional 43,523 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 worth $39,255,000 after purchasing an additional 11,858 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cogent Communications by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 52,770 shares of the technology company's stock valued at $4,067,000 after purchasing an additional 327 shares during the period. Norges Bank acquired a new stake in shares of Cogent Communications during the fourth quarter valued at about $4,994,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Cogent Communications during the first quarter worth approximately $695,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CCOI. The Goldman Sachs Group lowered their target price on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, May 9th. UBS Group lowered their target price on Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $75.75.

Insider Buying and Selling at Cogent Communications

In related news, CEO Dave Schaeffer sold 70,000 shares of the business'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 transaction of $3,297,700.00. Following the completion of the sale, the chief executive officer directly owned 3,356,721 shares of the company's stock, valued at $158,135,126.31. The trade was a 2.04% decrease in their ownership of the stock. The transaction 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 stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $47.57, for a total value of $52,327.00. Following the completion of the transaction, the director directly owned 18,904 shares in the company, valued at approximately $899,263.28. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 445,500 shares of company stock valued at $21,285,069 over the last three months. Insiders own 10.20% of the company's stock.

Cogent Communications Stock Performance

Shares of NASDAQ CCOI traded down $0.64 during trading hours on Wednesday, reaching $49.28. The stock had a trading volume of 417,489 shares, compared to its average volume of 506,620. The business's fifty day moving average is $49.20 and its two-hundred day moving average is $62.23. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -12.29 and a beta of 0.73. Cogent Communications Holdings, Inc. has a twelve month low of $43.65 and a twelve month high of $86.76. The company has a debt-to-equity ratio of 13.89, a current ratio of 1.49 and a quick ratio of 1.49.

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 the consensus estimate 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 the consensus estimate of $250.81 million. During the same period in the previous year, the company posted ($1.38) EPS. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Thursday, May 22nd were given a dividend of $1.01 per share. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.04 annualized dividend and a yield of 8.20%. Cogent Communications's dividend payout ratio is -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.