Smartleaf Asset Management LLC Has $113,000 Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Smartleaf Asset Management LLC lifted its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 212.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,493 shares of the technology company’s stock after buying an additional 1,015 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Cogent Communications were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CCOI. US Bancorp DE grew its position in shares of Cogent Communications by 12.6% during the 3rd quarter. US Bancorp DE now owns 17,587 shares of the technology company’s stock worth $1,335,000 after buying an additional 1,970 shares during the period. Van ECK Associates Corp grew its position in shares of Cogent Communications by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,445 shares of the technology company’s stock worth $860,000 after buying an additional 481 shares during the period. Olympiad Research LP acquired a new stake in shares of Cogent Communications during the 3rd quarter worth approximately $404,000. Consolidated Planning Corp acquired a new stake in shares of Cogent Communications during the 3rd quarter worth approximately $630,000. Finally, Covestor Ltd lifted its holdings in shares of Cogent Communications by 32.5% in the 3rd quarter. Covestor Ltd now owns 3,920 shares of the technology company’s stock worth $298,000 after purchasing an additional 962 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CCOI shares. UBS Group started coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 target price on the stock. StockNews.com upgraded Cogent Communications to a “sell” rating in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned 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 an average target price of $80.25.

Insider Buying and Selling at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.60, for a total value of $147,072.00. Following the sale, the executive now owns 49,542 shares in the company, valued at $3,794,917.20. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,045 shares of company stock worth $1,110,402. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications Price Performance

Shares of NASDAQ:CCOI opened at $71.59 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock’s fifty day simple moving average is $76.24 and its two-hundred day simple moving average is $77.00. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The stock has a market cap of $3.53 billion, a PE ratio of 91.78 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $252.29 million for the quarter, compared to analysts’ expectations of $258.49 million. As a group, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 5.62%. Cogent Communications’s dividend payout ratio (DPR) is -93.49%.

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.