Stifel Financial Corp Has $4.13 Million Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Stifel Financial Corp cut its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,427 shares of the technology company’s stock after selling 6,479 shares during the quarter. Stifel Financial Corp owned 0.11% of Cogent Communications worth $4,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new position in shares of Cogent Communications during the 3rd quarter valued at $30,000. Blue Trust Inc. increased its stake in Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after purchasing an additional 441 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cogent Communications in the 3rd quarter valued at about $46,000. 92.45% of the stock is currently owned by institutional investors.

Insider Activity at Cogent Communications

In other news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following the completion of the transaction, the vice president now directly owns 33,800 shares of the company’s stock, valued at $2,555,618. This represents a 12.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Blake Bath sold 6,220 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.69, for a total transaction of $520,551.80. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $836,900. The trade was a 38.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,136 shares of company stock valued at $1,939,749. 11.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CCOI. KeyCorp upped their price target on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Citigroup upped their target price on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a research report on Tuesday, September 3rd. The Goldman Sachs Group upped their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, UBS Group initiated coverage on shares of Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Price Performance

CCOI opened at $77.29 on Monday. The firm’s fifty day moving average price is $81.01 and its two-hundred day moving average price is $70.98. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 99.09 and a beta of 0.39. 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 1 year low of $50.80 and a 1 year high of $86.76.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. The business had revenue of $257.20 million for the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.13) earnings per share. As a group, analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.995 dividend. The ex-dividend date was Friday, November 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a dividend yield of 5.15%. Cogent Communications’s dividend payout ratio is currently 510.26%.

About Cogent Communications

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.