Y Intercept Hong Kong Ltd Buys New Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Y Intercept Hong Kong Ltd bought a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,252 shares of the technology company’s stock, valued at approximately $867,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Cogent Communications during the third quarter valued at approximately $30,000. Blue Trust Inc. raised its holdings in shares of Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after acquiring an additional 272 shares in the last quarter. Quest Partners LLC bought a new position in shares of Cogent Communications during the third quarter valued at approximately $46,000. KBC Group NV raised its holdings in shares of Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock valued at $111,000 after acquiring an additional 326 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Cogent Communications during the third quarter valued at approximately $204,000. Institutional investors own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

In related news, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the sale, the executive now directly owns 49,542 shares of the company’s stock, valued at $3,794,917.20. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the transaction, the vice president now directly owns 33,800 shares of the company’s stock, valued at approximately $2,555,618. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,440 shares of company stock valued at $1,057,910. Insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group started coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Price Performance

Shares of CCOI stock opened at $72.46 on Friday. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 92.90 and a beta of 0.40. The business’s fifty day moving average is $76.72 and its 200 day moving average is $77.04. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm had revenue of $252.29 million for the quarter, compared to analysts’ expectations of $258.49 million. Research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $1.005 dividend. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.55%. Cogent Communications’s dividend payout ratio is currently 510.26%.

About Cogent Communications

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.