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

Capstone Triton Financial Group LLC boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,401 shares of the technology company’s stock after buying an additional 313 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in Cogent Communications were worth $790,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Cogent Communications in the 1st quarter worth about $26,000. Blue Trust Inc. grew its position in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after purchasing an additional 272 shares during the last quarter. Hexagon Capital Partners LLC grew its position in Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after purchasing an additional 226 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after purchasing an additional 441 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Cogent Communications by 207.0% in the 3rd quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock worth $50,000 after purchasing an additional 445 shares during the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Stock Performance

Cogent Communications stock traded up $0.78 during mid-day trading on Wednesday, reaching $82.50. The company had a trading volume of 26,816 shares, compared to its average volume of 440,617. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 4.43. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.00. The company has a 50 day moving average of $75.70 and a 200-day moving average of $66.60. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 3.24 and a beta of 0.41.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.59. The company had revenue of $260.40 million during the quarter, compared to the consensus estimate of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. On average, sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.985 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.94 dividend on an annualized basis and a dividend yield of 4.78%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.98. Cogent Communications’s dividend payout ratio (DPR) is 15.61%.

Insider Buying and Selling

In related news, Director Lewis H. Ferguson sold 1,550 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total transaction of $112,561.00. Following the completion of the sale, the director now owns 17,748 shares in the company, valued at $1,288,859.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the sale, the vice president now directly owns 71,580 shares of the company’s stock, valued at $5,130,138.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lewis H. Ferguson sold 1,550 shares of Cogent Communications stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total value of $112,561.00. Following the sale, the director now directly owns 17,748 shares of the company’s stock, valued at approximately $1,288,859.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,870 shares of company stock worth $4,716,057 in the last quarter. 11.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CCOI has been the subject of several recent analyst reports. KeyCorp upped their target price on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. The Goldman Sachs Group upped their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Finally, Citigroup upped their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.14.

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.