Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,850 shares of the technology company's stock after selling 25,175 shares during the period. Skylands Capital LLC owned 0.16% of Cogent Communications worth $6,073,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Brown Advisory Inc. increased its stake in shares of Cogent Communications by 2.7% in the third quarter. Brown Advisory Inc. now owns 1,359,910 shares of the technology company's stock worth $84,178,000 after purchasing an additional 35,449 shares in the last quarter. Harspring Capital Management LLC grew its stake in Cogent Communications by 71.1% during the third quarter. Harspring Capital Management LLC now owns 984,000 shares of the technology company's stock valued at $60,910,000 after acquiring an additional 409,000 shares in the last quarter. Copeland Capital Management LLC grew its stake in Cogent Communications by 0.7% during the third quarter. Copeland Capital Management LLC now owns 969,139 shares of the technology company's stock valued at $59,990,000 after acquiring an additional 6,550 shares in the last quarter. Jennison Associates LLC grew its stake in Cogent Communications by 46.6% during the fourth quarter. Jennison Associates LLC now owns 828,664 shares of the technology company's stock valued at $63,028,000 after acquiring an additional 263,276 shares in the last quarter. Finally, FMR LLC grew its stake in Cogent Communications by 58.9% during the third quarter. FMR LLC now owns 710,612 shares of the technology company's stock valued at $43,987,000 after acquiring an additional 263,313 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Insider Transactions at Cogent Communications

In related news, CRO James Bubeck sold 1,920 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the sale, the executive now directly owns 54,822 shares in the company, valued at approximately $4,200,461.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO James Bubeck sold 1,920 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the sale, the executive now directly owns 54,822 shares in the company, valued at approximately $4,200,461.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dave Schaeffer sold 30,000 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $67.52, for a total transaction of $2,025,600.00. Following the sale, the chief executive officer now owns 4,679,377 shares of the company's stock, valued at $315,951,535.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,320 shares of company stock worth $4,669,997. 11.00% of the stock is currently owned by insiders.

Cogent Communications Trading Up 0.3 %

Shares of CCOI traded up $0.20 during mid-day trading on Monday, reaching $65.99. The company's stock had a trading volume of 354,095 shares, compared to its average volume of 407,179. The stock has a market cap of $3.13 billion, a PE ratio of 2.47 and a beta of 0.39. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.24. Cogent Communications Holdings, Inc. has a 52 week low of $57.35 and a 52 week high of $86.00. The company's fifty day moving average price is $67.50 and its two-hundred day moving average price is $69.54.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.95) by $0.79. The firm had revenue of $272.10 million during the quarter, compared to analyst estimates of $275.82 million. Cogent Communications had a net margin of 135.34% and a negative return on equity of 23.66%. On average, analysts predict that Cogent Communications Holdings, Inc. will post -3.35 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th were issued a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 5.85%. This is a positive change from Cogent Communications's previous quarterly dividend of $0.96. The ex-dividend date was Thursday, March 14th. Cogent Communications's payout ratio is presently 14.43%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCOI. JPMorgan Chase & Co. reduced their price objective on shares of Cogent Communications from $74.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, March 6th. TD Cowen boosted their price objective on shares of Cogent Communications from $81.00 to $84.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. KeyCorp boosted their price objective on shares of Cogent Communications from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. TheStreet upgraded shares of Cogent Communications from a "c+" rating to a "b" rating in a research report on Thursday, February 29th. Finally, Bank of America lowered shares of Cogent Communications from a "buy" rating to a "neutral" rating and dropped their target price for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cogent Communications has an average rating of "Hold" and an average price target of $77.57.

About Cogent Communications

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.