MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $14.48 Million Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,913 shares of the technology company's stock after purchasing an additional 9,198 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.38% of Cogent Communications worth $14,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new stake in shares of Cogent Communications in the fourth quarter valued at approximately $46,000. Blue Trust Inc. boosted its holdings in Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after purchasing an additional 218 shares during the last quarter. Itau Unibanco Holding S.A. grew its position 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 purchasing an additional 229 shares in the last quarter. BankPlus Trust Department acquired a new stake in Cogent Communications in the 4th quarter valued at $63,000. Finally, Jones Financial Companies Lllp lifted its position in Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock worth $67,000 after buying an additional 498 shares in the last quarter. 92.45% of the stock is owned by institutional investors.

Cogent Communications Stock Performance

NASDAQ:CCOI traded down $1.58 on Wednesday, hitting $48.28. The company's stock had a trading volume of 269,069 shares, compared to its average volume of 473,676. Cogent Communications Holdings, Inc. has a one year low of $45.00 and a one year high of $86.76. The firm has a market capitalization of $2.38 billion, a P/E ratio of 61.56 and a beta of 0.76. The stock has a fifty day moving average of $56.37 and a two-hundred day moving average of $69.97. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted 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 the consensus estimate of $250.81 million. During the same quarter last year, the company posted ($1.38) EPS. The firm's revenue was down 7.2% on a year-over-year basis. Research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date is Thursday, May 22nd. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's dividend payout ratio (DPR) is currently -100.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group decreased their price objective on Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 9th. StockNews.com upgraded Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price target on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Cogent Communications has an average rating of "Hold" and a consensus target price of $75.75.

Insider Transactions at Cogent Communications

In other news, Director Lewis H. Ferguson sold 956 shares of the firm's stock in a transaction dated 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 sale, the director now owns 18,652 shares in the company, valued at approximately $1,293,702.72. This trade represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now owns 103,000 shares of the company's stock, valued at approximately $7,422,180. This represents a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,681 shares of company stock worth $840,878. 10.20% of the stock is owned by insiders.

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.