First Trust Advisors LP increased its stake in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 118.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,178 shares of the technology company’s stock after acquiring an additional 49,947 shares during the quarter. First Trust Advisors LP owned approximately 0.20% of Cogent Communications worth $7,556,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Cogent Communications by 2.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 838,648 shares of the technology company’s stock worth $55,191,000 after acquiring an additional 20,957 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cogent Communications by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 714,921 shares of the technology company’s stock worth $58,603,000 after acquiring an additional 19,562 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cogent Communications by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 672,561 shares of the technology company’s stock worth $44,261,000 after acquiring an additional 12,213 shares during the last quarter. Boston Financial Mangement LLC grew its holdings in shares of Cogent Communications by 1.6% in the 1st quarter. Boston Financial Mangement LLC now owns 563,656 shares of the technology company’s stock worth $46,203,000 after acquiring an additional 8,774 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cogent Communications in the 4th quarter worth $34,554,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
In other Cogent Communications news, Director Blake Bath sold 5,500 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $86.45, for a total value of $475,475.00. Following the completion of the sale, the director now owns 14,175 shares of the company’s stock, valued at $1,225,428.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.71% of the stock is currently owned by company insiders.
CCOI opened at $75.81 on Friday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 82.69, a PEG ratio of 7.17 and a beta of 0.25. Cogent Communications Holdings Inc has a 1 year low of $53.24 and a 1 year high of $92.96. The stock has a fifty day moving average price of $83.36 and a 200 day moving average price of $73.50.
Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The firm had revenue of $140.90 million for the quarter, compared to analyst estimates of $141.78 million. Cogent Communications had a net margin of 6.79% and a negative return on equity of 20.95%. Cogent Communications’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. As a group, research analysts forecast that Cogent Communications Holdings Inc will post 0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a dividend of $0.68 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $2.72 dividend on an annualized basis and a yield of 3.59%. Cogent Communications’s dividend payout ratio (DPR) is presently 357.89%.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
Featured Story: Derivative
Want to see what other hedge funds are holding CCOI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cogent Communications Holdings Inc (NASDAQ:CCOI).
Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter.