Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Senator Investment Group LP

Senator Investment Group LP trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 583,640 shares of the technology company's stock after selling 80,538 shares during the quarter. Cogent Communications makes up 1.3% of Senator Investment Group LP's portfolio, making the stock its 26th biggest holding. Senator Investment Group LP owned 1.19% of Cogent Communications worth $44,981,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. purchased a new stake in shares of Cogent Communications in the fourth quarter valued at about $46,000. Blue Trust Inc. raised its holdings in shares of Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after acquiring an additional 218 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of Cogent Communications in the fourth quarter valued at $63,000. Jones Financial Companies Lllp boosted its stake in shares of Cogent Communications by 132.1% during the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company's stock valued at $67,000 after acquiring an additional 498 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Cogent Communications by 212.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company's stock worth $113,000 after purchasing an additional 1,015 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $80.25.

Cogent Communications Trading Up 0.1 %

CCOI stock traded up $0.03 during midday trading on Friday, reaching $53.53. 411,446 shares of the company's stock traded hands, compared to its average volume of 458,514. The business has a 50-day moving average price of $63.80 and a two-hundred day moving average price of $73.55. Cogent Communications Holdings, Inc. has a fifty-two week low of $47.54 and a fifty-two week high of $86.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The company has a market capitalization of $2.64 billion, a P/E ratio of 68.63 and a beta of 0.69.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping analysts' consensus estimates of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business had revenue of $252.29 million for the quarter, compared to analysts' expectations of $258.49 million. Equities research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a yield of 7.51%. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications's dividend payout ratio is -93.49%.

Insider Buying and Selling

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the completion of the transaction, the director now owns 10,147 shares of the company's stock, valued at approximately $740,325.12. The trade was a 12.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lewis H. Ferguson sold 956 shares of the firm's stock in a transaction that occurred on 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 $1,293,702.72. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,681 shares of company stock worth $840,878. Corporate insiders own 11.40% of the company's stock.

Cogent Communications 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.