Xact Kapitalforvaltning AB Invests $323,000 in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Xact Kapitalforvaltning AB acquired a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,130 shares of the technology company’s stock, valued at approximately $323,000.

Several other hedge funds have also recently added to or reduced their stakes in CCOI. Sei Investments Co. raised its holdings in shares of Cogent Communications by 42.4% in the third quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock valued at $203,000 after acquiring an additional 1,240 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Cogent Communications by 9.8% in the third quarter. New York State Common Retirement Fund now owns 48,846 shares of the technology company’s stock valued at $2,389,000 after acquiring an additional 4,346 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Cogent Communications by 3.5% in the third quarter. Ameriprise Financial Inc. now owns 278,575 shares of the technology company’s stock valued at $13,622,000 after acquiring an additional 9,423 shares in the last quarter. American International Group Inc. raised its holdings in shares of Cogent Communications by 5.9% in the third quarter. American International Group Inc. now owns 32,923 shares of the technology company’s stock valued at $1,610,000 after acquiring an additional 1,844 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Cogent Communications by 1.4% in the third quarter. Legal & General Group Plc now owns 82,204 shares of the technology company’s stock valued at $4,021,000 after acquiring an additional 1,121 shares in the last quarter. Hedge funds and other institutional investors own 94.92% of the company’s stock.

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In other news, VP Henry W. Kilmer sold 3,000 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $43.36, for a total transaction of $130,080.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 6,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $45.17, for a total transaction of $271,020.00. Following the transaction, the chief financial officer now owns 81,050 shares in the company, valued at approximately $3,661,028.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,000 shares of company stock worth $663,383. Corporate insiders own 10.35% of the company’s stock.



Shares of Cogent Communications stock opened at $47.40 on Wednesday. The stock has a market capitalization of $2,163.54, a price-to-earnings ratio of 124.74, a PEG ratio of 6.26 and a beta of 0.50. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of -6.93. Cogent Communications Holdings, Inc. has a one year low of $35.75 and a one year high of $54.85.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). Cogent Communications had a negative return on equity of 21.64% and a net margin of 1.21%. The firm had revenue of $125.20 million during the quarter, compared to the consensus estimate of $126.27 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post 0.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Friday, March 9th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, March 8th. This represents a $2.00 annualized dividend and a dividend yield of 4.22%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.48. Cogent Communications’s dividend payout ratio is 526.32%.

Several research firms recently weighed in on CCOI. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Thursday, January 25th. Guggenheim began coverage on Cogent Communications in a report on Tuesday, March 13th. They issued a “neutral” rating and a $45.00 price objective for the company. Deutsche Bank decreased their price objective on Cogent Communications from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 23rd. BidaskClub downgraded Cogent Communications from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Finally, ValuEngine downgraded Cogent Communications from a “hold” rating to a “sell” rating in a report on Monday, March 19th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.20.

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Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

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