Crescent Park Management L.P. Has $6.44 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Crescent Park Management L.P. increased its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,523 shares of the technology company’s stock after buying an additional 1,002 shares during the quarter. Cogent Communications makes up 2.5% of Crescent Park Management L.P.’s holdings, making the stock its 12th biggest position. Crescent Park Management L.P.’s holdings in Cogent Communications were worth $6,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Cogent Communications in the 4th quarter valued at $39,845,000. Bryn Mawr Capital Management LLC boosted its holdings in shares of Cogent Communications by 8,542.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company’s stock worth $18,318,000 after acquiring an additional 234,928 shares during the period. Reaves W H & Co. Inc. grew its position in shares of Cogent Communications by 17.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company’s stock valued at $53,835,000 after purchasing an additional 101,956 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Cogent Communications during the fourth quarter worth approximately $7,084,000. Finally, Madison Investment Advisors LLC acquired a new stake in Cogent Communications during the 4th quarter worth approximately $6,332,000. Institutional investors own 92.45% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total value of $353,094.00. Following the transaction, the chief financial officer now owns 103,000 shares in the company, valued at $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lewis H. Ferguson sold 956 shares of the stock in a transaction dated Wednesday, March 12th. The stock was 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 $1,293,702.72. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,681 shares of company stock worth $840,878 over the last three months. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications Stock Performance

NASDAQ:CCOI opened at $61.66 on Wednesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 79.05 and a beta of 0.45. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a fifty day moving average price of $73.75 and a 200-day moving average price of $76.45.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping 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 business had revenue of $252.29 million during the quarter, compared to analysts’ expectations of $258.49 million. As a group, equities analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 6.52%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is -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.