Tyro Capital Management LLC Has $32.43 Million Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Tyro Capital Management LLC increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 20.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 420,825 shares of the technology company's stock after purchasing an additional 70,521 shares during the period. Cogent Communications comprises about 10.6% of Tyro Capital Management LLC's investment portfolio, making the stock its 2nd biggest holding. Tyro Capital Management LLC owned 0.86% of Cogent Communications worth $32,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCOI. Hillsdale Investment Management Inc. acquired a new stake in shares of Cogent Communications during the 4th quarter valued at $46,000. Blue Trust Inc. boosted its stake in shares of Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after buying an additional 218 shares during the period. Itau Unibanco Holding S.A. boosted 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 valued at $48,000 after buying an additional 229 shares during the period. BankPlus Trust Department acquired a new stake in shares of Cogent Communications during the 4th quarter valued at $63,000. Finally, Jones Financial Companies Lllp boosted 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 valued at $67,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 92.45% of the company's stock.

Insider Activity at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO James Bubeck sold 2,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $71.67, for a total transaction of $143,340.00. Following the sale, the executive now owns 57,142 shares in the company, valued at approximately $4,095,367.14. The trade was a 3.38% 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 worth $840,878 over the last ninety days. Company insiders own 10.20% of the company's stock.

Cogent Communications Price Performance

NASDAQ:CCOI traded down $3.80 on Wednesday, reaching $46.05. The stock had a trading volume of 1,302,950 shares, compared to its average volume of 477,898. The company has a market capitalization of $2.27 billion, a P/E ratio of 59.04 and a beta of 0.76. Cogent Communications Holdings, Inc. has a 1-year low of $45.00 and a 1-year high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a fifty day moving average price of $56.37 and a 200-day moving average price of $69.97.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released 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 net margin of 3.73% and a negative return on equity of 36.31%. The company had revenue of $247.05 million for the quarter, compared to the consensus estimate of $250.81 million. During the same period last year, the company earned ($1.38) earnings per share. Cogent Communications's revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Thursday, May 22nd will be issued a $1.01 dividend. This is a positive change from Cogent Communications's previous quarterly dividend of $1.01. This represents a $4.04 annualized dividend and a yield of 8.77%. The ex-dividend date is Thursday, May 22nd. Cogent Communications's dividend payout ratio is currently -100.75%.

Analyst Ratings Changes

CCOI has been the subject of several analyst reports. StockNews.com raised shares of Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price objective on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, UBS Group decreased 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 report on Friday, May 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock 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.