Jones Financial Companies Lllp Has $67,000 Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Jones Financial Companies Lllp lifted its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 132.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 875 shares of the technology company’s stock after buying an additional 498 shares during the period. Jones Financial Companies Lllp’s holdings in Cogent Communications were worth $67,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CCOI. Intech Investment Management LLC grew its stake in Cogent Communications by 85.7% in the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock valued at $1,284,000 after buying an additional 7,803 shares during the last quarter. PEAK6 Investments LLC acquired a new position in Cogent Communications in the 3rd quarter valued at $1,720,000. Citigroup Inc. grew its stake in Cogent Communications by 56.8% in the 3rd quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock valued at $4,297,000 after buying an additional 20,510 shares during the last quarter. Verition Fund Management LLC grew its stake in Cogent Communications by 136.5% in the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock valued at $11,025,000 after buying an additional 83,816 shares during the last quarter. Finally, Atom Investors LP acquired a new position in Cogent Communications in the 3rd quarter valued at $4,565,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

In other news, Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the transaction, the vice president now directly owns 41,000 shares of the company’s stock, valued at $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,681 shares of company stock valued at $840,878. Company insiders own 11.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.25.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $70.91 on Tuesday. 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 firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 90.91 and a beta of 0.45. The company’s fifty day moving average is $75.32 and its two-hundred day moving average is $76.90. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76.

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

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.67%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

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.