Skylands Capital LLC raised its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 14.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 475,400 shares of the technology company’s stock after buying an additional 60,400 shares during the period. Cogent Communications Holdings accounts for about 2.6% of Skylands Capital LLC’s holdings, making the stock its 7th largest position. Skylands Capital LLC owned approximately 1.06% of Cogent Communications Holdings worth $19,064,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of CCOI. Aperio Group LLC raised its stake in shares of Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock worth $368,000 after buying an additional 99 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Cogent Communications Holdings by 106.4% in the second quarter. North Star Investment Management Corp. now owns 4,565 shares of the technology company’s stock worth $183,000 after buying an additional 2,353 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Cogent Communications Holdings by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 8,087 shares of the technology company’s stock worth $324,000 after buying an additional 3,567 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Cogent Communications Holdings by 7.3% in the first quarter. Perigon Wealth Management LLC now owns 16,726 shares of the technology company’s stock worth $720,000 after buying an additional 1,144 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cogent Communications Holdings by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 174,471 shares of the technology company’s stock worth $7,511,000 after buying an additional 524 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.
Cogent Communications Holdings, Inc. (NASDAQ CCOI) opened at 43.20 on Wednesday. The firm’s 50-day moving average is $41.36 and its 200-day moving average is $41.64. The firm has a market capitalization of $1.93 billion, a PE ratio of 127.06 and a beta of 0.74. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $45.25.
Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. During the same period in the prior year, the company posted $0.09 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Cogent Communications Holdings, Inc. will post $0.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.46 dividend. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, August 16th. Cogent Communications Holdings’s dividend payout ratio is presently 488.89%.
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A number of equities research analysts recently weighed in on CCOI shares. Cowen and Company lowered shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price objective for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. BidaskClub lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Royal Bank Of Canada boosted their price target on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Monday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.67.
In other Cogent Communications Holdings news, Director Tim Weingarten sold 2,383 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $40.15, for a total value of $95,677.45. Following the transaction, the director now directly owns 19,652 shares of the company’s stock, valued at approximately $789,027.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 2,250 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $41.20, for a total value of $92,700.00. Following the transaction, the chief financial officer now directly owns 77,150 shares in the company, valued at approximately $3,178,580. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,433 shares of company stock worth $1,147,646. Insiders own 9.48% of the company’s stock.
About Cogent Communications Holdings
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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