Deutsche Bank AG Boosts Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Deutsche Bank AG increased its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,723 shares of the technology company's stock after acquiring an additional 13,160 shares during the quarter. Deutsche Bank AG owned about 0.12% of Cogent Communications worth $4,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. DigitalBridge Group Inc. boosted its position in shares of Cogent Communications by 246.0% during the fourth quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company's stock worth $69,973,000 after acquiring an additional 645,521 shares during the last quarter. Brown Advisory Inc. raised its stake in Cogent Communications by 24.1% during the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company's stock valued at $146,209,000 after purchasing an additional 368,129 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Cogent Communications during the fourth quarter valued at $479,000. Beaconlight Capital LLC raised its stake in Cogent Communications by 17.2% during the fourth quarter. Beaconlight Capital LLC now owns 337,793 shares of the technology company's stock valued at $26,034,000 after purchasing an additional 49,569 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Cogent Communications by 45.7% during the fourth quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company's stock valued at $57,961,000 after purchasing an additional 235,842 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

Insider Activity

In related news, Director Sheryl Lynn Kennedy sold 1,425 shares of Cogent Communications stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the completion of the sale, the director now owns 10,147 shares in the company, valued at $740,325.12. This trade represents a 12.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lewis H. Ferguson sold 956 shares of Cogent Communications stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total transaction of $66,308.16. Following the sale, the director now owns 18,652 shares of the company's stock, valued at $1,293,702.72. The trade was a 4.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,681 shares of company stock valued at $840,878. 10.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CCOI has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Wall Street Zen raised shares of Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. Finally, 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. Two equities research 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $75.75.

Cogent Communications Trading Down 0.3%

Shares of CCOI traded down $0.15 during midday trading on Thursday, hitting $45.90. The stock had a trading volume of 1,899,021 shares, compared to its average volume of 484,229. Cogent Communications Holdings, Inc. has a 1 year low of $43.67 and a 1 year high of $86.76. The firm has a market cap of $2.26 billion, a PE ratio of 58.85 and a beta of 0.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The stock's 50 day moving average is $55.42 and its 200 day moving average is $69.56.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced 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 net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $247.05 million during the quarter, compared to analysts' expectations of $250.81 million. During the same period in the prior year, the company posted ($1.38) EPS. The company's revenue was down 7.2% compared to the same quarter last year. As a group, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd will be paid a $1.01 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.04 annualized dividend and a dividend yield of 8.80%. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's dividend payout ratio is currently -100.75%.

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.