SG Capital Management LLC Buys 103,498 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

SG Capital Management LLC grew its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 105.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,916 shares of the technology company's stock after purchasing an additional 103,498 shares during the period. Cogent Communications makes up about 1.5% of SG Capital Management LLC's holdings, making the stock its 20th biggest position. SG Capital Management LLC owned about 0.41% of Cogent Communications worth $15,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CCOI. Hillsdale Investment Management Inc. bought a new stake in Cogent Communications during the 4th quarter worth approximately $46,000. Blue Trust Inc. increased its holdings 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 acquiring an additional 218 shares during the period. Itau Unibanco Holding S.A. increased its holdings in Cogent Communications by 58.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after acquiring an additional 229 shares during the period. BankPlus Trust Department bought a new stake in Cogent Communications during the 4th quarter worth approximately $63,000. Finally, Jones Financial Companies Lllp increased its holdings 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 acquiring an additional 498 shares during the period. Institutional investors own 92.45% of the company's stock.

Cogent Communications Trading Down 1.4%

Shares of Cogent Communications stock traded down $0.70 during trading on Monday, reaching $49.89. The company's stock had a trading volume of 557,297 shares, compared to its average volume of 473,398. Cogent Communications Holdings, Inc. has a 52-week low of $45.00 and a 52-week high of $86.76. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 63.96 and a beta of 0.76. The firm's 50-day moving average is $56.73 and its two-hundred day moving average is $70.11. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported ($1.09) earnings per share (EPS) 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 analysts' expectations of $250.81 million. During the same period last year, the company posted ($1.38) EPS. Cogent Communications's revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company 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 dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.04 annualized dividend and a yield of 8.10%. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's dividend payout ratio is presently -100.75%.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the sale, the chief financial officer now owns 103,000 shares of the company's stock, valued at $7,422,180. This represents a 4.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction on Friday, March 7th. The shares were 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 $2,975,370. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,681 shares of company stock valued at $840,878 in the last quarter. Company insiders own 11.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CCOI shares. The Goldman Sachs Group decreased their price target on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. StockNews.com raised shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Finally, UBS Group decreased their price target 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. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $75.75.

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.