GLOBALT Investments LLC GA Sells 226 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

GLOBALT Investments LLC GA trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,891 shares of the technology company’s stock after selling 226 shares during the period. GLOBALT Investments LLC GA owned approximately 0.11% of Cogent Communications worth $3,999,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Cogent Communications by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock worth $400,000 after purchasing an additional 212 shares during the period. Blue Trust Inc. lifted its stake in Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares during the period. Royce & Associates LP lifted its stake in Cogent Communications by 0.6% during the fourth quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock worth $2,611,000 after purchasing an additional 218 shares during the period. KBC Group NV lifted its stake in Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after purchasing an additional 326 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Cogent Communications by 0.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 326 shares during the period. 92.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction 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 directly owns 103,000 shares of the company’s stock, valued at $7,422,180. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the sale, the vice president now directly owns 41,000 shares in the company, valued at $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,681 shares of company stock valued at $840,878 over the last three months. 11.00% of the stock is currently owned by corporate insiders.

Cogent Communications Price Performance

Shares of CCOI stock opened at $68.52 on Monday. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a market cap of $3.38 billion, a PE ratio of 87.85 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The firm’s 50 day moving average price is $75.42 and its two-hundred day moving average price is $76.89.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current 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 given a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.87%. 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. Cogent Communications’s dividend payout ratio (DPR) is currently -93.49%.

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.