Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 207.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 660 shares of the technology company’s stock after purchasing an additional 445 shares during the quarter. GAMMA Investing LLC’s holdings in Cogent Communications were worth $50,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its position in shares of Cogent Communications by 20.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,230 shares of the technology company’s stock valued at $853,000 after acquiring an additional 1,900 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cogent Communications during the third quarter worth $891,000. Senator Investment Group LP lifted its position in shares of Cogent Communications by 7.5% in the 2nd quarter. Senator Investment Group LP now owns 716,768 shares of the technology company’s stock worth $40,454,000 after buying an additional 50,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after buying an additional 441 shares during the period. Finally, Creative Planning grew its position in shares of Cogent Communications by 58.3% during the 2nd quarter. Creative Planning now owns 12,575 shares of the technology company’s stock valued at $710,000 after buying an additional 4,632 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Insider Buying and Selling at Cogent Communications

In other news, Director Lewis H. Ferguson sold 1,550 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total value of $112,561.00. Following the sale, the director now owns 17,748 shares of the company’s stock, valued at approximately $1,288,859.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lewis H. Ferguson sold 1,550 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total transaction of $112,561.00. Following the completion of the transaction, the director now owns 17,748 shares in the company, valued at approximately $1,288,859.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John B. Chang sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the sale, the vice president now owns 71,580 shares of the company’s stock, valued at $5,130,138.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,870 shares of company stock valued at $4,716,057. 11.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. TD Cowen raised their target price on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup upped their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and an average target price of $77.14.

Cogent Communications Trading Up 2.0 %

NASDAQ:CCOI opened at $83.66 on Thursday. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.00. The business has a fifty day moving average of $73.85 and a 200-day moving average of $65.39. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 3.31 and a beta of 0.41.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.59. The firm had revenue of $260.40 million for the quarter, compared to analysts’ expectations of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. Cogent Communications’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) EPS. Equities analysts predict that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.985 dividend. This represents a $3.94 dividend on an annualized basis and a yield of 4.71%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, August 22nd. Cogent Communications’s dividend payout ratio is 15.61%.

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.