Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,844 shares of the technology company's stock after buying an additional 7,318 shares during the quarter. ProShare Advisors LLC owned 0.23% of Cogent Communications worth $8,620,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CCOI. Millennium Management LLC lifted its stake in Cogent Communications by 37.6% during the fourth quarter. Millennium Management LLC now owns 4,528 shares of the technology company's stock worth $349,000 after purchasing an additional 1,237 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cogent Communications by 5.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 187,913 shares of the technology company's stock valued at $14,482,000 after buying an additional 9,198 shares during the period. Janus Henderson Group PLC lifted its stake in Cogent Communications by 12.8% during the 4th quarter. Janus Henderson Group PLC now owns 21,111 shares of the technology company's stock worth $1,627,000 after acquiring an additional 2,400 shares in the last quarter. Ellevest Inc. purchased a new position in Cogent Communications during the 4th quarter valued at about $372,000. Finally, Deutsche Bank AG boosted its holdings in Cogent Communications by 29.5% during the 4th quarter. Deutsche Bank AG now owns 57,723 shares of the technology company's stock valued at $4,449,000 after acquiring an additional 13,160 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cogent Communications

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

Cogent Communications Stock Up 2.2%

Shares of Cogent Communications stock traded up $0.99 on Friday, reaching $46.89. 243,170 shares of the company were exchanged, compared to its average volume of 483,452. The stock's 50 day moving average price is $55.42 and its 200-day moving average price is $69.56. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications Holdings, Inc. has a 1-year low of $43.65 and a 1-year high of $86.76. The company has a market cap of $2.31 billion, a P/E ratio of 60.25 and a beta of 0.76.

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

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Thursday, May 22nd will be paid a dividend of $1.01 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.62%. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's payout ratio is presently -100.75%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. The Goldman Sachs Group cut 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. UBS Group cut their target price 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. Finally, Wall Street Zen upgraded shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Two 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. Based on data from MarketBeat.com, Cogent Communications presently 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.