Xponance Inc. Has $246,000 Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Xponance Inc. grew its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,189 shares of the technology company’s stock after purchasing an additional 313 shares during the period. Xponance Inc.’s holdings in Cogent Communications were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Cogent Communications by 4.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock valued at $400,000 after buying an additional 212 shares during the period. Blue Trust Inc. raised its stake in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after acquiring an additional 218 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Cogent Communications by 0.6% during the fourth quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock worth $2,611,000 after purchasing an additional 218 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Cogent Communications by 0.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 326 shares during the last quarter. Finally, Phillips Wealth Planners LLC increased its holdings in Cogent Communications by 6.6% in the fourth quarter. Phillips Wealth Planners LLC now owns 5,645 shares of the technology company’s stock valued at $405,000 after purchasing an additional 349 shares during the period. 92.45% of the stock is owned by institutional investors.

Cogent Communications Stock Performance

Shares of Cogent Communications stock opened at $61.57 on Friday. The business has a 50-day moving average price of $74.21 and a two-hundred day moving average price of $76.53. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. 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 company has a market cap of $3.02 billion, a P/E ratio of 78.94 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $258.49 million. As a group, analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date was Thursday, March 13th. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is presently -93.49%.

Insider Buying and Selling

In other news, Director Lewis H. Ferguson sold 956 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now owns 18,652 shares in the company, valued at approximately $1,293,702.72. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 103,000 shares of the company’s stock, valued at approximately $7,422,180. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,681 shares of company stock valued at $840,878 over the last ninety days. 11.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Cogent Communications to a “sell” rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $80.25.

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.