Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC lowered its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 80.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCOI. Hillsdale Investment Management Inc. acquired a new stake in Cogent Communications in the fourth quarter valued at $46,000. Itau Unibanco Holding S.A. raised its stake in shares of Cogent Communications by 58.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after buying an additional 229 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cogent Communications by 35.4% during the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the technology company's stock worth $64,000 after buying an additional 274 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock worth $67,000 after buying an additional 498 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Cogent Communications by 212.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company's stock worth $113,000 after buying an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company's stock.

Cogent Communications Trading Up 0.1%

Cogent Communications stock opened at $48.20 on Friday. The stock has a market cap of $2.38 billion, a PE ratio of -12.02 and a beta of 0.72. The stock has a 50-day moving average price of $49.63 and a 200 day moving average price of $63.49. Cogent Communications Holdings, Inc. has a 52 week low of $43.65 and a 52 week high of $86.76. The company has a current ratio of 1.49, a quick 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 data on Thursday, May 8th. The technology company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.04). The company 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 company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.38) EPS. Equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

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

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 25,000 shares of Cogent Communications stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $46.27, for a total value of $1,156,750.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $48.04, for a total value of $235,396.00. Following the completion of the sale, the chief financial officer now owns 98,000 shares of the company's stock, valued at $4,707,920. This trade 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 in the last 90 days. 11.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CCOI has been the subject of several research reports. UBS Group cut their price target on Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen raised Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group cut their price target on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target 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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