WINTON GROUP Ltd Has $965,000 Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

WINTON GROUP Ltd increased its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 20.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,099 shares of the technology company’s stock after purchasing an additional 2,856 shares during the period. WINTON GROUP Ltd’s holdings in Cogent Communications were worth $965,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CCOI. EdgePoint Investment Group Inc. raised its stake in Cogent Communications by 500.1% during the first quarter. EdgePoint Investment Group Inc. now owns 1,051,568 shares of the technology company’s stock worth $68,699,000 after acquiring an additional 876,326 shares in the last quarter. Capital World Investors lifted its holdings in Cogent Communications by 327.7% during the 1st quarter. Capital World Investors now owns 981,623 shares of the technology company’s stock valued at $64,129,000 after purchasing an additional 752,133 shares during the last quarter. Norges Bank acquired a new position in Cogent Communications in the fourth quarter valued at about $50,430,000. Westwood Holdings Group Inc. bought a new stake in Cogent Communications during the fourth quarter worth about $48,184,000. Finally, M&G Plc acquired a new stake in shares of Cogent Communications during the first quarter worth approximately $27,942,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cogent Communications

In other news, VP John B. Chang sold 1,400 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $71.67, for a total value of $100,338.00. Following the sale, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the sale, the chief executive officer now owns 4,373,038 shares in the company, valued at $318,444,627.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John B. Chang sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total value of $100,338.00. Following the completion of the transaction, the vice president now owns 71,580 shares of the company’s stock, valued at $5,130,138.60. The disclosure for this sale can be found here. Insiders sold 64,870 shares of company stock valued at $4,716,057 over the last quarter. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications Price Performance

Shares of CCOI stock opened at $70.73 on Tuesday. The firm’s 50 day moving average price is $69.30 and its two-hundred day moving average price is $63.88. The stock has a market cap of $3.47 billion, a PE ratio of 2.80 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.00. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.59. The business had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $264.32 million. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) earnings per share. As a group, analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a $0.985 dividend. This represents a $3.94 annualized dividend and a dividend yield of 5.57%. The ex-dividend date was Thursday, August 22nd. This is a boost from Cogent Communications’s previous quarterly dividend of $0.98. Cogent Communications’s dividend payout ratio is 15.61%.

Wall Street Analyst Weigh In

CCOI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. The Goldman Sachs Group upped their price target on shares of Cogent Communications from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. TD Cowen raised their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup boosted their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Cogent Communications presently has an average rating of “Hold” and a consensus target price of $75.86.

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.