Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 30.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,223 shares of the technology company's stock after buying an additional 26,673 shares during the period. Edgestream Partners L.P. owned 0.23% of Cogent Communications worth $7,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CCOI. Jones Financial Companies Lllp grew its stake in 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 in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Cogent Communications during the 4th quarter valued at about $3,000,000. Swiss National Bank boosted its holdings in shares of Cogent Communications by 6.4% during the 4th quarter. Swiss National Bank now owns 91,600 shares of the technology company's stock valued at $7,060,000 after purchasing an additional 5,500 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Cogent Communications during the fourth quarter valued at about $6,332,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Cogent Communications in the fourth quarter worth about $320,000. Hedge funds and other institutional investors own 92.45% of the company's stock.

Cogent Communications Trading Up 4.1%

CCOI traded up $2.04 on Wednesday, hitting $52.29. The company had a trading volume of 677,341 shares, compared to its average volume of 501,861. The business's fifty day simple moving average is $48.65 and its 200 day simple moving average is $61.27. 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 Holdings, Inc. has a 12-month low of $43.65 and a 12-month high of $86.76. The company has a market cap of $2.58 billion, a PE ratio of -13.04 and a beta of 0.73.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported ($1.09) earnings per share (EPS) 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 business earned ($1.38) EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 7.73%. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. The ex-dividend date was Thursday, May 22nd. Cogent Communications's dividend payout ratio is presently -100.75%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction that occurred 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 transaction, the vice president directly owned 38,600 shares of the company's stock, valued at $1,850,870. This trade represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the business's 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 directly owned 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. In the last quarter, insiders have sold 445,500 shares of company stock valued at $21,285,069. Company insiders own 11.40% of the company's stock.

About Cogent Communications

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.