2,419 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,419 shares of the technology company’s stock, valued at approximately $186,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Cogent Communications in the fourth quarter valued at $4,994,000. Loomis Sayles & Co. L P bought a new stake in shares of Cogent Communications in the 4th quarter valued at about $7,084,000. Vanguard Group Inc. increased its stake in shares of Cogent Communications by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock valued at $394,182,000 after buying an additional 43,523 shares during the period. LPL Financial LLC raised its position in shares of Cogent Communications by 7.8% during the fourth quarter. LPL Financial LLC now owns 44,066 shares of the technology company’s stock worth $3,396,000 after acquiring an additional 3,198 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Cogent Communications in the fourth quarter worth approximately $709,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.25.

Insiders Place Their Bets

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $72.96, for a total value of $103,968.00. Following the completion of the sale, the director now directly owns 10,147 shares of the company’s stock, valued at $740,325.12. This represents a 12.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the transaction, the chief financial officer now owns 103,000 shares in the company, valued at $7,422,180. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,681 shares of company stock worth $840,878. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications Price Performance

Shares of CCOI opened at $61.65 on Thursday. The firm has a market cap of $3.04 billion, a PE ratio of 79.04 and a beta of 0.45. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The business’s 50 day moving average price is $73.49 and its two-hundred day moving average price is $76.35.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly 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 net margin of 3.73% and a negative return on equity of 36.31%. The business had revenue of $252.29 million during the quarter, compared to analysts’ expectations of $258.49 million. On average, equities analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $1.005 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Thursday, March 13th. Cogent Communications’s dividend payout ratio is -93.49%.

Cogent Communications Company Profile

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.