Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 191,331 shares of the technology company’s stock after acquiring an additional 3,215 shares during the period. Advisors Asset Management Inc. owned 0.39% of Cogent Communications worth $14,526,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. EdgePoint Investment Group Inc. lifted its position in Cogent Communications by 46.2% during the second quarter. EdgePoint Investment Group Inc. now owns 1,537,196 shares of the technology company’s stock worth $86,759,000 after buying an additional 485,628 shares during the period. Harspring Capital Management LLC grew its holdings in Cogent Communications by 6.0% in the second quarter. Harspring Capital Management LLC now owns 1,176,500 shares of the technology company’s stock valued at $66,402,000 after purchasing an additional 66,500 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Cogent Communications by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,039,458 shares of the technology company’s stock valued at $78,916,000 after buying an additional 4,197 shares during the period. Capital World Investors increased its holdings in shares of Cogent Communications by 327.7% during the 1st quarter. Capital World Investors now owns 981,623 shares of the technology company’s stock worth $64,129,000 after buying an additional 752,133 shares during the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Cogent Communications by 18.9% in the 2nd quarter. Hood River Capital Management LLC now owns 874,174 shares of the technology company’s stock worth $49,338,000 after buying an additional 138,680 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCOI shares. JPMorgan Chase & Co. lifted their price objective on Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. KeyCorp upped their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. UBS Group started coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. Finally, Citigroup upped their price target on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.25.

Insider Transactions at Cogent Communications

In related news, Director Sheryl Lynn Kennedy sold 1,350 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.58, for a total transaction of $108,783.00. Following the completion of the transaction, the director now owns 10,318 shares in the company, valued at $831,424.44. The trade was a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lewis H. Ferguson sold 846 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.76, for a total value of $69,168.96. Following the completion of the sale, the director now owns 18,354 shares in the company, valued at $1,500,623.04. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,346 shares of company stock worth $5,077,344. 11.00% of the stock is currently owned by insiders.

Cogent Communications Trading Down 0.1 %

CCOI opened at $79.96 on Wednesday. The stock has a market capitalization of $3.92 billion, a PE ratio of 102.51 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76. The firm’s fifty day moving average price is $78.54 and its 200 day moving average price is $68.40.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping the consensus estimate of ($1.34) by $0.01. The company had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned ($1.13) EPS. As a group, research analysts expect that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.995 per share. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.98%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 22nd. Cogent Communications’s dividend payout ratio is 505.13%.

Cogent Communications Company 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.