WINTON GROUP Ltd Invests $768,000 in Cogent Communications Holdings, Inc. $CCOI

WINTON GROUP Ltd acquired a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,604 shares of the technology company’s stock, valued at approximately $768,000. WINTON GROUP Ltd owned about 0.07% of Cogent Communications as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its position in shares of Cogent Communications by 10.3% during the first quarter. Empowered Funds LLC now owns 5,466 shares of the technology company’s stock worth $335,000 after purchasing an additional 510 shares in the last quarter. Quarry LP acquired a new stake in shares of Cogent Communications during the third quarter worth about $27,000. Farther Finance Advisors LLC increased its position in shares of Cogent Communications by 56.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,092 shares of the technology company’s stock worth $45,000 after purchasing an additional 756 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Cogent Communications by 313.9% during the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Cogent Communications by 1.5% during the third quarter. Swiss National Bank now owns 90,900 shares of the technology company’s stock worth $3,486,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Stock Performance

Shares of CCOI opened at $14.46 on Thursday. Cogent Communications Holdings, Inc. has a fifty-two week low of $14.43 and a fifty-two week high of $54.37. The company has a market capitalization of $724.16 million, a price-to-earnings ratio of -4.07 and a beta of 0.77. The firm has a 50-day simple moving average of $19.43 and a 200-day simple moving average of $20.98.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Monday, May 4th. The technology company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.20. Cogent Communications had a negative net margin of 17.53% and a negative return on equity of 842.48%. The business had revenue of $239.19 million during the quarter, compared to the consensus estimate of $241.31 million. During the same quarter in the prior year, the firm earned ($1.09) earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Cogent Communications Holdings, Inc. will post -4.25 EPS for the current year.

Cogent Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th were paid a dividend of $0.02 per share. The ex-dividend date was Monday, May 18th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Cogent Communications’s dividend payout ratio is -2.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group cut their target price on Cogent Communications from $21.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Williams Trading set a $40.00 target price on shares of Cogent Communications in a report on Monday, February 23rd. KeyCorp cut their target price on shares of Cogent Communications from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, February 23rd. Citigroup cut their target price on shares of Cogent Communications from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 19th. Finally, Oppenheimer decreased their target price on shares of Cogent Communications from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.90.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.