Amundi Sells 1,305 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Amundi lessened its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 14.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,575 shares of the technology company’s stock after selling 1,305 shares during the period. Amundi’s holdings in Cogent Communications were worth $554,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Cogent Communications in the third quarter valued at about $30,000. Quest Partners LLC purchased a new position in shares of Cogent Communications in the third quarter valued at about $46,000. Blue Trust Inc. lifted its position 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 buying an additional 218 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Cogent Communications in the fourth quarter worth about $63,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock worth $67,000 after buying an additional 498 shares in the last quarter. Institutional investors own 92.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cogent Communications Stock Down 2.2 %

Shares of NASDAQ:CCOI opened at $68.97 on Friday. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a market cap of $3.40 billion, a P/E ratio of 88.42 and a beta of 0.45. The business’s 50 day moving average is $75.14 and its 200 day moving average is $76.80. 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) last announced its quarterly earnings data 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 analysts’ expectations of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a yield of 5.83%. The ex-dividend date is Thursday, March 13th. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is -93.49%.

Insider Buying and Selling at Cogent Communications

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the transaction, the chief financial officer now owns 103,000 shares in the company, valued at $7,422,180. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the transaction, the director now owns 10,147 shares of the company’s stock, valued at $740,325.12. This trade represents a 12.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is currently owned by corporate insiders.

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.