Copeland Capital Management LLC Has $84,000 Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Copeland Capital Management LLC lowered its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 80.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,364 shares of the technology company's stock after selling 5,642 shares during the quarter. Copeland Capital Management LLC's holdings in Cogent Communications were worth $84,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in Cogent Communications by 2.4% in 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 in the last quarter. Alliancebernstein L.P. raised its holdings in Cogent Communications by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 52,770 shares of the technology company's stock worth $4,067,000 after purchasing an additional 327 shares during the last quarter. Norges Bank purchased a new stake in shares of Cogent Communications in the fourth quarter valued at about $4,994,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cogent Communications in the first quarter worth $695,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Cogent Communications Trading Up 0.7%

Shares of CCOI stock traded up $0.36 during trading hours on Wednesday, reaching $50.59. 371,097 shares of the stock traded hands, compared to its average volume of 597,163. The business has a fifty day moving average price of $49.54 and a 200 day moving average price of $63.11. The firm has a market capitalization of $2.50 billion, a PE ratio of -12.62 and a beta of 0.73. Cogent Communications Holdings, Inc. has a 1-year low of $43.65 and a 1-year high of $86.76. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 13.89.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.04). The firm had revenue of $247.05 million for the quarter, compared to analysts' expectations of $250.81 million. Cogent Communications had a negative return on equity of 70.29% and a negative net margin of 18.76%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the business earned ($1.38) earnings per share. On average, equities research analysts forecast 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. 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 dividend yield of 7.99%. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's payout ratio is currently -100.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCOI shares. The Goldman Sachs Group dropped their price objective 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 decreased their price objective on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $75.75.

Insider Activity

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $47.95, for a total transaction of $115,080.00. Following the completion of the transaction, the vice president owned 38,600 shares of the company's stock, valued at $1,850,870. The trade was a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $48.04, for a total value of $235,396.00. Following the completion of the transaction, the chief financial officer owned 98,000 shares in the company, valued at $4,707,920. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 445,500 shares of company stock valued at $21,285,069. Insiders own 10.20% of the company's stock.

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.