TradeLink Capital LLC Takes $236,000 Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

TradeLink Capital LLC acquired a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,058 shares of the technology company’s stock, valued at approximately $236,000. Cogent Communications comprises about 2.3% of TradeLink Capital LLC’s portfolio, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Cogent Communications during the third quarter valued at about $30,000. Quest Partners LLC purchased a new position in shares of Cogent Communications during the third quarter valued at about $46,000. Blue Trust Inc. increased its position in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after buying an additional 218 shares during the period. BankPlus Trust Department purchased a new position in shares of Cogent Communications during the fourth quarter valued at about $63,000. Finally, Jones Financial Companies Lllp increased its position in shares of Cogent Communications by 132.1% during the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock valued at $67,000 after buying an additional 498 shares during the period. 92.45% of the stock is owned by institutional investors.

Cogent Communications Trading Up 1.0 %

NASDAQ:CCOI opened at $71.59 on Friday. The company’s 50 day moving average price is $76.16 and its 200-day moving average price is $76.98. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 91.78 and a beta of 0.45.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.62%. Cogent Communications’s dividend payout ratio is presently -93.49%.

Insider Activity

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now owns 103,000 shares in the company, valued at $7,422,180. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO James Bubeck sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total transaction of $143,340.00. Following the transaction, the executive now owns 57,142 shares in the company, valued at approximately $4,095,367.14. This trade represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,045 shares of company stock worth $1,110,402 over the last 90 days. 11.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CCOI shares. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research report on Monday, March 3rd. UBS Group started coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.25.

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.