Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Position Boosted by Tyro Capital Management LLC

Tyro Capital Management LLC raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 20.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420,825 shares of the technology company's stock after buying an additional 70,521 shares during the quarter. Cogent Communications comprises 10.6% of Tyro Capital Management LLC's portfolio, making the stock its 2nd largest position. Tyro Capital Management LLC owned approximately 0.86% of Cogent Communications worth $32,433,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CCOI. CANADA LIFE ASSURANCE Co boosted its holdings in Cogent Communications by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company's stock worth $4,055,000 after purchasing an additional 156 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Cogent Communications by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company's stock valued at $400,000 after purchasing an additional 212 shares during the period. Blue Trust Inc. grew its stake in Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after buying an additional 218 shares during the last quarter. Royce & Associates LP increased its position in Cogent Communications by 0.6% in the fourth quarter. Royce & Associates LP now owns 33,883 shares of the technology company's stock worth $2,611,000 after buying an additional 218 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its stake in Cogent Communications by 58.9% in the fourth 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 last quarter. Institutional investors own 92.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CCOI. UBS Group dropped their price objective on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group dropped 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. Finally, Wall Street Zen upgraded Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two investment 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 target price of $75.75.

Cogent Communications Price Performance

CCOI traded up $1.00 during trading on Friday, reaching $46.90. The stock had a trading volume of 326,873 shares, compared to its average volume of 483,673. The stock has a 50 day moving average of $55.42 and a two-hundred day moving average of $69.56. 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 firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 60.14 and a beta of 0.76. Cogent Communications Holdings, Inc. has a 1-year low of $43.65 and a 1-year high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $247.05 million during the quarter, compared to analyst estimates of $250.81 million. During the same period in the previous year, the company posted ($1.38) earnings per share. Cogent Communications's revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Thursday, May 22nd will be given a $1.01 dividend. This is a positive change from Cogent Communications's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.04 annualized dividend and a yield of 8.61%. Cogent Communications's payout ratio is -100.75%.

Insider Buying and Selling at Cogent Communications

In related news, 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 value 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 approximately $2,975,370. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lewis H. Ferguson sold 956 shares of Cogent Communications stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now owns 18,652 shares in the company, valued at approximately $1,293,702.72. The trade was a 4.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,681 shares of company stock valued at $840,878. Corporate insiders own 10.20% of the company's stock.

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.