Moran Wealth Management LLC Has $3.32 Million Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Moran Wealth Management LLC boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,119 shares of the technology company’s stock after buying an additional 765 shares during the quarter. Moran Wealth Management LLC owned approximately 0.09% of Cogent Communications worth $3,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Cogent Communications in the 3rd quarter valued at $30,000. Quest Partners LLC acquired a new position in Cogent Communications in the 3rd quarter valued at $46,000. Blue Trust Inc. grew its stake in Cogent Communications by 53.8% in the 4th 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 last quarter. BankPlus Trust Department acquired a new position in Cogent Communications in the 4th quarter valued at $63,000. Finally, Jones Financial Companies Lllp grew its stake in Cogent Communications by 132.1% in the 4th 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 last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cogent Communications

In related news, CRO James Bubeck sold 2,000 shares of Cogent Communications stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total transaction of $143,340.00. Following the completion of the transaction, the executive now directly owns 57,142 shares of the company’s stock, valued at $4,095,367.14. This trade represents a 3.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Henry W. Kilmer sold 4,800 shares of Cogent Communications stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,525 shares of company stock valued at $1,137,498. Company insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

CCOI has been the topic of a number of research analyst reports. UBS Group began coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 target price on the stock. StockNews.com raised shares of Cogent Communications to a “sell” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Price Performance

NASDAQ:CCOI opened at $69.63 on Tuesday. The company has a 50-day moving average of $76.04 and a 200-day moving average of $76.99. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 89.27 and a beta of 0.45. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. The company had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. As a group, equities research 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 disclosed 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 represents a $4.02 dividend on an annualized basis and a dividend yield of 5.77%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

Cogent Communications 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.