NBC Securities Inc. Buys 48,864 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

NBC Securities Inc. increased its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 92,196.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,917 shares of the technology company's stock after buying an additional 48,864 shares during the period. NBC Securities Inc. owned 0.10% of Cogent Communications worth $2,999,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Cogent Communications by 1.0% in the 1st quarter. Rhumbline Advisers now owns 124,020 shares of the technology company's stock valued at $7,604,000 after purchasing an additional 1,273 shares during the period. GAMMA Investing LLC boosted its position in shares of Cogent Communications by 8,204.3% during the 1st quarter. GAMMA Investing LLC now owns 64,192 shares of the technology company's stock valued at $3,936,000 after acquiring an additional 63,419 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Cogent Communications by 3.9% during the 4th quarter. California State Teachers Retirement System now owns 43,368 shares of the technology company's stock valued at $3,342,000 after purchasing an additional 1,636 shares during the last quarter. Capstone Triton Financial Group LLC lifted its holdings in Cogent Communications by 11.3% during the 4th quarter. Capstone Triton Financial Group LLC now owns 11,580 shares of the technology company's stock valued at $892,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Ulysses Management LLC lifted its holdings in Cogent Communications by 9.6% during the 4th quarter. Ulysses Management LLC now owns 372,166 shares of the technology company's stock valued at $28,683,000 after purchasing an additional 32,596 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lewis H. Ferguson sold 956 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the completion of the transaction, the director now directly owns 18,652 shares in the company, valued at approximately $1,293,702.72. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the transaction, the vice president now owns 41,000 shares of the company's stock, valued at $2,975,370. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,556 shares of company stock valued at $2,427,719 in the last 90 days. 11.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. UBS Group dropped their price target on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, The Goldman Sachs Group lowered their target price on shares of 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 investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $75.75.

Cogent Communications Trading Up 0.1%

Shares of CCOI stock traded up $0.06 during mid-day trading on Thursday, hitting $47.65. The company's stock had a trading volume of 195,537 shares, compared to its average volume of 499,567. The company's fifty day simple moving average is $51.97 and its 200-day simple moving average is $67.45. Cogent Communications Holdings, Inc. has a 52 week low of $43.65 and a 52 week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $2.35 billion, a PE ratio of 61.09 and a beta of 0.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.04). The firm had revenue of $247.05 million during the quarter, compared to analyst estimates of $250.81 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.38) earnings per share. As a group, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a yield of 8.48%. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's payout ratio is -100.75%.

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.