ProShare Advisors LLC Has $204,000 Stock Holdings in Cogent Communications Holdings, Inc. $CCOI

ProShare Advisors LLC decreased its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 94.7% in the 4th quarter, HoldingsChannel reports. The firm owned 9,471 shares of the technology company’s stock after selling 167,642 shares during the period. ProShare Advisors LLC’s holdings in Cogent Communications were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in CCOI. Quarry LP acquired a new stake in Cogent Communications during the 3rd quarter valued at $27,000. Farther Finance Advisors LLC lifted its holdings in shares of Cogent Communications by 56.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,092 shares of the technology company’s stock worth $45,000 after buying an additional 756 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cogent Communications by 466.9% during the fourth quarter. GAMMA Investing LLC now owns 2,262 shares of the technology company’s stock worth $49,000 after buying an additional 1,863 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Cogent Communications during the third quarter worth $79,000. Finally, MAI Capital Management lifted its holdings in shares of Cogent Communications by 536.5% during the third quarter. MAI Capital Management now owns 2,215 shares of the technology company’s stock worth $85,000 after buying an additional 1,867 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Insider Buying and Selling

In related news, Director Sheryl Lynn Kennedy sold 3,300 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $22.99, for a total value of $75,867.00. Following the transaction, the director owned 10,100 shares in the company, valued at approximately $232,199. This trade represents a 24.63% 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, Director Lewis H. Ferguson sold 2,206 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $23.03, for a total value of $50,804.18. Following the completion of the transaction, the director owned 20,449 shares in the company, valued at $470,940.47. The trade was a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,756 shares of company stock worth $292,467 over the last three months. Company insiders own 4.20% of the company’s stock.

Cogent Communications Stock Performance

Shares of NASDAQ CCOI opened at $17.40 on Wednesday. Cogent Communications Holdings, Inc. has a 52 week low of $14.82 and a 52 week high of $54.37. The stock has a market capitalization of $871.36 million, a P/E ratio of -4.90 and a beta of 0.77. The stock’s fifty day moving average is $19.66 and its 200 day moving average is $21.05.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Monday, May 4th. The technology company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.20. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 17.53%.The company had revenue of $239.19 million for the quarter, compared to analysts’ expectations of $241.31 million. During the same quarter last year, the business earned ($1.09) earnings per share. Cogent Communications’s revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Cogent Communications Holdings, Inc. will post -4.25 earnings per share for the current year.

Cogent Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a $0.02 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.5%. Cogent Communications’s dividend payout ratio (DPR) is presently -2.25%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCOI. Citigroup dropped their target price on Cogent Communications from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 19th. Royal Bank Of Canada dropped their target price on Cogent Communications from $22.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. TD Cowen dropped their target price on Cogent Communications from $40.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $22.00 target price on shares of Cogent Communications in a report on Friday, May 29th. Finally, Williams Trading set a $40.00 target price on Cogent Communications in a report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $24.90.

Cogent Communications Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.