Natixis Advisors LLC Makes New $847,000 Investment in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Natixis Advisors LLC bought a new position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,986 shares of the technology company’s stock, valued at approximately $847,000.

Several other institutional investors have also made changes to their positions in CCOI. Frank Rimerman Advisors LLC acquired a new position in Cogent Communications in the 4th quarter worth approximately $320,000. Madison Investment Advisors LLC acquired a new stake in shares of Cogent Communications in the fourth quarter worth $6,332,000. Swiss National Bank grew its holdings in shares of Cogent Communications by 6.4% during the fourth quarter. Swiss National Bank now owns 91,600 shares of the technology company’s stock valued at $7,060,000 after buying an additional 5,500 shares in the last quarter. Moran Wealth Management LLC raised its position in Cogent Communications by 1.8% during the fourth quarter. Moran Wealth Management LLC now owns 43,119 shares of the technology company’s stock valued at $3,323,000 after buying an additional 765 shares during the period. Finally, TradeLink Capital LLC purchased a new stake in Cogent Communications in the 4th quarter worth about $236,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $80.25.

Insiders Place Their Bets

In other news, Director Sheryl Lynn Kennedy sold 1,425 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.96, for a total transaction of $103,968.00. Following the transaction, the director now owns 10,147 shares of the company’s stock, valued at approximately $740,325.12. This represents a 12.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lewis H. Ferguson sold 956 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the completion of the sale, the director now owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,681 shares of company stock valued at $840,878 over the last three months. 11.40% of the stock is currently owned by insiders.

Cogent Communications Stock Down 1.3 %

CCOI opened at $63.07 on Thursday. The company has a market capitalization of $3.09 billion, a PE ratio of 80.86 and a beta of 0.45. 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 fifty-two week low of $50.80 and a fifty-two week high of $86.76. The business has a 50-day moving average of $74.65 and a 200-day moving average of $76.70.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.31. The firm had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Equities research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $1.005 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a yield of 6.37%. Cogent Communications’s dividend payout ratio is currently -93.49%.

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.