Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stake Lowered by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. decreased its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 584,385 shares of the technology company's stock after selling 35,713 shares during the period. Westwood Holdings Group Inc. owned 1.19% of Cogent Communications worth $45,039,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CCOI. DigitalBridge Group Inc. increased its position in Cogent Communications by 246.0% during the fourth quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company's stock worth $69,973,000 after buying an additional 645,521 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cogent Communications during the fourth quarter worth $39,845,000. Brown Advisory Inc. boosted its holdings in shares of Cogent Communications by 24.1% during the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company's stock worth $146,209,000 after purchasing an additional 368,129 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Cogent Communications by 21.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company's stock worth $110,738,000 after purchasing an additional 257,383 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Cogent Communications by 45.7% during the fourth quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company's stock worth $57,961,000 after purchasing an additional 235,842 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Insider Buying and Selling at Cogent Communications

In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the sale, the vice president now directly owns 41,000 shares of the company's stock, valued at approximately $2,975,370. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dave Schaeffer sold 25,000 shares of Cogent Communications stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $46.27, for a total value of $1,156,750.00. Following the sale, the chief executive officer now directly owns 4,176,721 shares in the company, valued at approximately $193,256,880.67. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,681 shares of company stock valued at $1,997,628 over the last three months. 10.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCOI. Wall Street Zen upgraded Cogent Communications to a "sell" rating in a report on Monday, March 3rd. UBS Group decreased their price objective on Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their price objective on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. 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 stock. According to MarketBeat, Cogent Communications presently has an average rating of "Hold" and an average target price of $75.75.

Cogent Communications Trading Up 2.2%

Cogent Communications stock traded up $0.99 during midday trading on Friday, reaching $46.89. The stock had a trading volume of 887,074 shares, compared to its average volume of 486,142. Cogent Communications Holdings, Inc. has a twelve month low of $43.65 and a twelve month high of $86.76. The stock has a market capitalization of $2.31 billion, a PE ratio of 60.12 and a beta of 0.76. 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 stock's 50-day simple moving average is $54.95 and its 200 day simple moving average is $69.32.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $250.81 million. During the same period last year, the business earned ($1.38) earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, May 22nd. 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 8.62%. Cogent Communications's dividend payout ratio (DPR) is -100.75%.

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.