Virtu Financial LLC acquired a new position in Cogent Communications Holdings Inc (NASDAQ:CCOI) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 6,852 shares of the technology company’s stock, valued at approximately $310,000.
Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its stake in Cogent Communications by 42.4% in the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after purchasing an additional 1,240 shares during the period. Envestnet Asset Management Inc. boosted its stake in Cogent Communications by 225.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock worth $232,000 after purchasing an additional 3,300 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Cogent Communications by 1,378.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,048 shares of the technology company’s stock worth $296,000 after purchasing an additional 5,639 shares during the period. Vident Investment Advisory LLC acquired a new position in Cogent Communications in the 3rd quarter worth approximately $482,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Cogent Communications in the 3rd quarter worth approximately $496,000. 95.65% of the stock is owned by hedge funds and other institutional investors.
CCOI has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, January 15th. BidaskClub downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Deutsche Bank dropped their target price on shares of Cogent Communications from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, Guggenheim assumed coverage on shares of Cogent Communications in a report on Tuesday. They issued a “neutral” rating and a $45.00 target price on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.20.
Cogent Communications Holdings Inc (CCOI) opened at $43.75 on Wednesday. Cogent Communications Holdings Inc has a twelve month low of $35.75 and a twelve month high of $54.85. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of -6.93. The stock has a market cap of $2,103.05, a PE ratio of 120.39, a PEG ratio of 6.13 and a beta of 0.53.
Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Cogent Communications had a negative return on equity of 21.64% and a net margin of 1.21%. The company had revenue of $125.20 million for the quarter, compared to the consensus estimate of $126.27 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. equities research analysts forecast that Cogent Communications Holdings Inc will post 0.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.50 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. Cogent Communications’s payout ratio is presently 1,538.58%.
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About Cogent Communications
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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