Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Credit Suisse AG

Credit Suisse AG cut its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 24.6% during the first quarter, Holdings Channel reports. The fund owned 44,632 shares of the technology company’s stock after selling 14,587 shares during the period. Credit Suisse AG’s holdings in Cogent Communications Holdings were worth $1,920,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in Cogent Communications Holdings by 125,208.8% in the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock worth $213,356,000 after buying an additional 4,952,008 shares during the period. Norges Bank bought a new stake in Cogent Communications Holdings during the fourth quarter worth approximately $13,374,000. Renaissance Technologies LLC boosted its stake in Cogent Communications Holdings by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,813,500 shares of the technology company’s stock worth $78,071,000 after buying an additional 187,400 shares during the period. FMR LLC boosted its stake in Cogent Communications Holdings by 5.9% in the first quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock worth $134,256,000 after buying an additional 173,379 shares during the period. Finally, First Trust Advisors LP boosted its stake in Cogent Communications Holdings by 12.6% in the first quarter. First Trust Advisors LP now owns 1,148,991 shares of the technology company’s stock worth $49,464,000 after buying an additional 128,414 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) traded up 1.38% during midday trading on Thursday, reaching $44.20. 81,818 shares of the company’s stock were exchanged. Cogent Communications Holdings, Inc. has a one year low of $34.23 and a one year high of $45.25. The firm has a 50 day moving average of $41.64 and a 200-day moving average of $41.67. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 126.29 and a beta of 0.74.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $119.80 million for the quarter, compared to analysts’ expectations of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. On average, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 488.89%.

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CCOI has been the topic of a number of research reports. Citigroup Inc. lifted their price target on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Cowen and Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Cogent Communications Holdings in a report on Thursday, May 25th. Finally, BidaskClub cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Cogent Communications Holdings presently has an average rating of “Hold” and a consensus target price of $42.67.

In other news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total transaction of $40,250.00. Following the sale, the vice president now directly owns 43,052 shares in the company, valued at approximately $1,732,843. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total transaction of $120,600.00. Following the sale, the vice president now owns 53,240 shares in the company, valued at $2,140,248. The disclosure for this sale can be found here. Insiders have sold a total of 27,433 shares of company stock worth $1,147,646 in the last quarter. Corporate insiders own 9.48% of the company’s stock.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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