Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Bought by Capstone Triton Financial Group LLC

Capstone Triton Financial Group LLC raised its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 20.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,088 shares of the technology company’s stock after buying an additional 1,711 shares during the period. Capstone Triton Financial Group LLC’s holdings in Cogent Communications were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CCOI. EntryPoint Capital LLC purchased a new position in Cogent Communications during the 1st quarter valued at about $26,000. Covestor Ltd boosted its stake in shares of Cogent Communications by 17.2% in the first quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock valued at $123,000 after purchasing an additional 276 shares during the period. Headlands Technologies LLC purchased a new position in shares of Cogent Communications in the first quarter valued at approximately $136,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cogent Communications in the fourth quarter valued at approximately $211,000. Finally, Syon Capital LLC purchased a new stake in Cogent Communications during the 4th quarter worth approximately $211,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Cogent Communications Trading Down 0.2 %

CCOI opened at $72.29 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.00. The company has a market cap of $3.54 billion, a P/E ratio of 2.86 and a beta of 0.40. The business’s 50-day simple moving average is $70.09 and its 200-day simple moving average is $63.93.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The firm had revenue of $260.40 million during the quarter, compared to the consensus estimate of $264.32 million. During the same period in the prior year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.985 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.98. This represents a $3.94 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, August 22nd. Cogent Communications’s dividend payout ratio (DPR) is currently 15.61%.

Insider Activity at Cogent Communications

In other Cogent Communications news, CEO Dave Schaeffer sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the transaction, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total value of $4,369,200.00. Following the completion of the sale, the chief executive officer now directly owns 4,373,038 shares of the company’s stock, valued at $318,444,627.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the transaction, the vice president now directly owns 71,580 shares in the company, valued at $5,130,138.60. The disclosure for this sale can be found here. Insiders sold a total of 64,870 shares of company stock valued at $4,716,057 over the last ninety days. Insiders own 11.40% of the company’s stock.

Wall Street Analyst Weigh In

CCOI has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. TD Cowen lifted their target price on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a report on Friday, August 9th. KeyCorp boosted their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Citigroup increased their price target on Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cogent Communications has an average rating of “Hold” and a consensus target price of $75.86.

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.