5,214 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. bought a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,214 shares of the technology company’s stock, valued at approximately $402,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in shares of Cogent Communications by 85.7% during the third quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock worth $1,284,000 after purchasing an additional 7,803 shares during the period. Consolidated Planning Corp acquired a new stake in shares of Cogent Communications during the third quarter worth about $630,000. PEAK6 Investments LLC acquired a new stake in shares of Cogent Communications during the third quarter worth about $1,720,000. Citigroup Inc. lifted its holdings in shares of Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock worth $4,297,000 after purchasing an additional 20,510 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in Cogent Communications by 136.5% in the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock valued at $11,025,000 after acquiring an additional 83,816 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Stock Down 0.1 %

Shares of CCOI opened at $71.26 on Wednesday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 91.36 and a beta of 0.40. The stock has a 50 day moving average price of $76.47 and a 200 day moving average price of $77.09.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend yield of 5.64%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications’s payout ratio is presently -93.49%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com raised Cogent Communications to a “sell” rating in a report on Monday. UBS Group assumed coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.25.

Insider Buying and Selling

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.60, for a total value of $147,072.00. Following the completion of the sale, the executive now directly owns 49,542 shares in the company, valued at $3,794,917.20. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the sale, the vice president now owns 33,800 shares of the company’s stock, valued at approximately $2,555,618. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,045 shares of company stock worth $967,062. 11.40% of the stock is 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.