Pathstone Holdings LLC Decreases Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Pathstone Holdings LLC trimmed its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,131 shares of the technology company’s stock after selling 289 shares during the period. Pathstone Holdings LLC’s holdings in Cogent Communications were worth $1,908,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Cogent Communications in the first quarter worth approximately $26,000. Blue Trust Inc. lifted its holdings in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after purchasing an additional 226 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cogent Communications by 127.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after buying an additional 441 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cogent Communications in the third quarter valued at about $46,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cogent Communications

In related news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $69.77, for a total value of $133,958.40. Following the sale, the executive now owns 50,982 shares in the company, valued at approximately $3,557,014.14. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake Bath sold 6,220 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $83.69, for a total value of $520,551.80. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $836,900. This trade represents a 38.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,016 shares of company stock valued at $1,116,135 over the last quarter. 11.40% of the stock is owned by company insiders.

Analyst Ratings Changes

CCOI has been the subject of several research reports. TD Cowen upped their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price objective on Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. KeyCorp upped their target price on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, UBS Group started coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $80.25.

Cogent Communications Stock Performance

Shares of Cogent Communications stock opened at $82.50 on Wednesday. The business’s fifty day simple moving average is $79.45 and its 200-day simple moving average is $68.96. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market cap of $4.04 billion, a PE ratio of 105.77 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company had revenue of $257.20 million for the quarter, compared to analysts’ expectations of $258.69 million. During the same quarter in the prior year, the company posted ($1.13) earnings per share. Cogent Communications’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.995 dividend. This represents a $3.98 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Friday, November 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio (DPR) is 510.26%.

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.