Reaves W H & Co. Inc. Raises Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Reaves W H & Co. Inc. increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,518 shares of the technology company’s stock after acquiring an additional 101,956 shares during the period. Reaves W H & Co. Inc. owned approximately 1.42% of Cogent Communications worth $53,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC raised its stake in shares of Cogent Communications by 8,542.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company’s stock valued at $18,318,000 after buying an additional 234,928 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Cogent Communications by 136.5% during 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. FMR LLC grew its position in shares of Cogent Communications by 11.0% during the 3rd quarter. FMR LLC now owns 800,758 shares of the technology company’s stock valued at $60,793,000 after acquiring an additional 79,474 shares during the period. Atom Investors LP acquired a new stake in shares of Cogent Communications during the 3rd quarter valued at about $4,565,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Cogent Communications during the 3rd quarter valued at about $4,325,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Activity

In other news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were 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 of the company’s stock, valued at approximately $3,794,917.20. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the completion of the sale, the director now directly owns 10,147 shares of the company’s stock, valued at $740,325.12. The trade was a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,145 shares of company stock valued at $613,968. Insiders own 11.40% of the company’s stock.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $71.32 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. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The company has a market capitalization of $3.50 billion, a PE ratio of 91.44 and a beta of 0.40. The company has a fifty day moving average of $76.56 and a two-hundred day moving average of $77.10.

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

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $1.005 dividend. This represents a $4.02 dividend on an annualized basis 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 is Thursday, March 13th. Cogent Communications’s dividend payout ratio is presently -93.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CCOI. UBS Group began coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. StockNews.com upgraded Cogent Communications to a “sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $80.25.

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.