2,768 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Acquired by Syon Capital LLC

Syon Capital LLC purchased a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,768 shares of the technology company’s stock, valued at approximately $211,000.

Other large investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its holdings in Cogent Communications by 313.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock valued at $38,000 after purchasing an additional 383 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Cogent Communications by 109.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock valued at $48,000 after purchasing an additional 333 shares in the last quarter. CI Investments Inc. purchased a new position in Cogent Communications during the third quarter valued at approximately $142,000. Fifth Third Bancorp lifted its holdings in Cogent Communications by 56.7% during the fourth quarter. Fifth Third Bancorp now owns 2,026 shares of the technology company’s stock valued at $154,000 after purchasing an additional 733 shares in the last quarter. Finally, Strs Ohio lifted its holdings in Cogent Communications by 16.7% during the fourth quarter. Strs Ohio now owns 2,100 shares of the technology company’s stock valued at $159,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Trading Up 1.9 %

Shares of CCOI opened at $53.45 on Wednesday. The company’s fifty day moving average is $60.24 and its 200 day moving average is $67.90. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.00. The stock has a market capitalization of $2.62 billion, a PE ratio of 2.12 and a beta of 0.41. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.12 and a current ratio of 1.12.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.19). Cogent Communications had a negative return on equity of 24.63% and a net margin of 114.09%. The business had revenue of $266.17 million during the quarter, compared to the consensus estimate of $274.13 million. Sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.63 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.975 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $0.97. The ex-dividend date was Wednesday, May 22nd. This represents a $3.90 dividend on an annualized basis and a yield of 7.30%. Cogent Communications’s payout ratio is 15.45%.

Wall Street Analysts Forecast Growth

CCOI has been the topic of several recent analyst reports. TD Cowen reduced their price objective on shares of Cogent Communications from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. Bank of America cut shares of Cogent Communications from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. KeyCorp reduced their price objective on shares of Cogent Communications from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, StockNews.com cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cogent Communications currently has an average rating of “Hold” and an average price target of $75.14.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $56.00, for a total transaction of $134,400.00. Following the transaction, the vice president now owns 38,600 shares in the company, valued at $2,161,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $56.00, for a total transaction of $134,400.00. Following the transaction, the vice president now owns 38,600 shares in the company, valued at $2,161,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lewis H. Ferguson sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $58.90, for a total transaction of $117,800.00. Following the transaction, the director now owns 17,623 shares in the company, valued at approximately $1,037,994.70. The disclosure for this sale can be found here. Insiders have sold 178,440 shares of company stock worth $9,828,016 over the last quarter. Insiders own 11.00% of the company’s stock.

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.