SG Americas Securities LLC Sells 322 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

SG Americas Securities LLC lowered its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 13.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,133 shares of the technology company’s stock after selling 322 shares during the period. SG Americas Securities LLC’s holdings in Cogent Communications were worth $162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Cogent Communications by 895.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock worth $25,000 after acquiring an additional 358 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in Cogent Communications during the 4th quarter worth $28,000. Belpointe Asset Management LLC grew its position in Cogent Communications by 68.5% during the 1st quarter. Belpointe Asset Management LLC now owns 1,289 shares of the technology company’s stock worth $82,000 after acquiring an additional 524 shares during the last quarter. Strs Ohio grew its position in Cogent Communications by 20.0% during the 3rd quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after acquiring an additional 300 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Cogent Communications during the 1st quarter worth $120,000. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Up 0.0 %

Shares of NASDAQ:CCOI opened at $63.03 on Tuesday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 2.36 and a beta of 0.39. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50-day moving average is $69.85 and its 200-day moving average is $69.43. Cogent Communications Holdings, Inc. has a 1 year low of $57.35 and a 1 year high of $86.00.

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

Cogent Communications Increases Dividend

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

Analysts Set New Price Targets

CCOI has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on Cogent Communications from $74.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. KeyCorp lifted their target price on Cogent Communications from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Bank of America downgraded Cogent Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $75.00 in a report on Thursday, March 7th. TD Cowen lifted their target price on Cogent Communications from $81.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Finally, StockNews.com downgraded Cogent Communications from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Cogent Communications currently has a consensus rating of “Hold” and an average target price of $77.57.

Insider Buying and Selling

In related news, CEO Dave Schaeffer sold 26,174 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the transaction, the chief executive officer now directly owns 4,653,203 shares of the company’s stock, valued at approximately $298,782,164.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Dave Schaeffer sold 26,174 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $64.21, for a total transaction of $1,680,632.54. Following the transaction, the chief executive officer now directly owns 4,653,203 shares of the company’s stock, valued at approximately $298,782,164.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Henry W. Kilmer sold 2,400 shares of the business’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 directly owns 41,000 shares of the company’s stock, valued at $3,012,270. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,320 shares of company stock valued at $4,669,997. 11.00% of the stock is owned by company insiders.

Cogent Communications 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.