Los Angeles Capital Management LLC Has $1.87 Million Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Los Angeles Capital Management LLC lowered its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 26.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,530 shares of the technology company’s stock after selling 8,661 shares during the quarter. Los Angeles Capital Management LLC owned 0.05% of Cogent Communications worth $1,866,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Harspring Capital Management LLC grew its holdings in shares of Cogent Communications by 71.1% in the 3rd quarter. Harspring Capital Management LLC now owns 984,000 shares of the technology company’s stock valued at $60,910,000 after buying an additional 409,000 shares during the period. Jennison Associates LLC raised its position in shares of Cogent Communications by 46.6% during the fourth quarter. Jennison Associates LLC now owns 828,664 shares of the technology company’s stock worth $63,028,000 after purchasing an additional 263,276 shares during the period. FMR LLC grew its position in shares of Cogent Communications by 58.9% in the 3rd quarter. FMR LLC now owns 710,612 shares of the technology company’s stock valued at $43,987,000 after purchasing an additional 263,313 shares during the period. Raymond James & Associates increased its stake in Cogent Communications by 7.0% during the 4th quarter. Raymond James & Associates now owns 630,300 shares of the technology company’s stock worth $47,941,000 after purchasing an additional 41,104 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Cogent Communications by 1.4% during the 3rd quarter. Northern Trust Corp now owns 545,838 shares of the technology company’s stock worth $33,787,000 after buying an additional 7,746 shares during the period. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Performance

CCOI opened at $63.07 on Wednesday. The business’s 50-day simple moving average is $65.75 and its 200 day simple moving average is $69.53. Cogent Communications Holdings, Inc. has a 52-week low of $57.35 and a 52-week high of $86.00. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $2.99 billion, a PE ratio of 2.36 and a beta of 0.39.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.79. The company had revenue of $272.10 million during the quarter, compared to the consensus estimate of $275.82 million. Cogent Communications had a negative return on equity of 23.66% and a net margin of 135.34%. As a group, sell-side analysts expect that Cogent Communications Holdings, Inc. will post -3.35 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 15th were given a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date was Thursday, March 14th. This is an increase from Cogent Communications’s previous quarterly dividend of $0.96. Cogent Communications’s dividend payout ratio (DPR) is 14.43%.

Wall Street Analyst Weigh In

CCOI has been the subject of several research reports. TD Cowen increased their price objective on shares of Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. dropped their price target on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. StockNews.com downgraded Cogent Communications from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, KeyCorp boosted their target price on Cogent Communications from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.57.

Insider Transactions at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total transaction of $176,328.00. Following the completion of the transaction, the vice president now owns 41,000 shares in the company, valued at $3,012,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total value of $176,328.00. Following the sale, the vice president now owns 41,000 shares in the company, valued at $3,012,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the completion of the transaction, the executive now owns 54,822 shares in the company, valued at $4,200,461.64. The disclosure for this sale can be found here. Insiders have sold 69,320 shares of company stock worth $4,669,997 in the last ninety days. Insiders own 11.00% of the company’s stock.

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.