Frank Rimerman Advisors LLC Acquires New Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Frank Rimerman Advisors LLC acquired a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,148 shares of the technology company’s stock, valued at approximately $320,000.

Other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC lifted its stake in Cogent Communications by 85.7% in the third quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 7,803 shares during the last quarter. PEAK6 Investments LLC purchased a new position in Cogent Communications in the third quarter valued at approximately $1,720,000. Citigroup Inc. lifted its stake in Cogent Communications by 56.8% in the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock valued at $4,297,000 after purchasing an additional 20,510 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Cogent Communications by 136.5% during the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock worth $11,025,000 after acquiring an additional 83,816 shares in the last quarter. Finally, Atom Investors LP purchased a new stake in shares of Cogent Communications during the third quarter worth $4,565,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Transactions at Cogent Communications

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,425 shares of the firm’s 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 sale, the director now owns 10,147 shares in the company, valued at $740,325.12. This trade represents a 12.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the sale, the director now owns 18,652 shares in the company, valued at $1,293,702.72. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,681 shares of company stock valued at $840,878. 11.00% of the stock is currently owned by company insiders.

Cogent Communications Trading Up 1.3 %

Cogent Communications stock opened at $68.52 on Monday. The stock has a market cap of $3.38 billion, a P/E ratio of 87.85 and a beta of 0.45. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The firm’s fifty day moving average price is $75.42 and its 200-day moving average price is $76.89. 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 results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.31. The firm had revenue of $252.29 million for the quarter, compared to analysts’ expectations 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 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 $1.005 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.02 annualized dividend and a dividend yield of 5.87%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio is presently -93.49%.

Analyst Ratings Changes

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