Dimensional Fund Advisors LP cut its position in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,415,782 shares of the technology company’s stock after selling 68,351 shares during the period. Dimensional Fund Advisors LP owned about 3.08% of Cogent Communications worth $69,234,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flinton Capital Management LLC raised its holdings in Cogent Communications by 63.4% in the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,024 shares during the period. Sei Investments Co. raised its holdings in Cogent Communications by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after purchasing an additional 670 shares during the period. Pacad Investment Ltd. acquired a new stake in Cogent Communications in the second quarter worth $140,000. PNC Financial Services Group Inc. raised its holdings in Cogent Communications by 1,919.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after purchasing an additional 3,589 shares during the period. Finally, Riverhead Capital Management LLC raised its holdings in Cogent Communications by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after purchasing an additional 1,663 shares during the period. Institutional investors own 95.49% of the company’s stock.
In related news, VP Robert N. Beury, Jr. sold 3,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $46.51, for a total value of $139,530.00. Following the completion of the transaction, the vice president now owns 47,240 shares of the company’s stock, valued at $2,197,132.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Montagner sold 5,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $1,880,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,250 shares of company stock valued at $611,435. 9.48% of the stock is owned by insiders.
CCOI has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 target price on shares of Cogent Communications in a report on Monday, September 18th. BidaskClub upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Deutsche Bank raised their price objective on shares of Cogent Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Monday, October 9th. Finally, Jefferies Group raised their price objective on shares of Cogent Communications from $39.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.77.
Cogent Communications Holdings Inc (CCOI) opened at $45.00 on Friday. The firm has a market cap of $2,070.00, a price-to-earnings ratio of 128.57, a P/E/G ratio of 6.48 and a beta of 0.58. Cogent Communications Holdings Inc has a 12-month low of $37.85 and a 12-month high of $54.85. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22.
Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $123.00 million during the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. equities analysts forecast that Cogent Communications Holdings Inc will post 0.38 EPS for the current year.
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Cogent Communications Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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