Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust reduced its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 144,344 shares of the technology company’s stock after selling 34,594 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Cogent Communications were worth $11,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in Cogent Communications during the fourth quarter worth $46,000. Blue Trust Inc. boosted its holdings 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 buying an additional 218 shares in the last quarter. BankPlus Trust Department purchased a new position in Cogent Communications in the 4th quarter worth about $63,000. Jones Financial Companies Lllp increased its position in shares of Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock worth $67,000 after acquiring an additional 498 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Cogent Communications by 212.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,493 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,015 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Price Performance

Shares of CCOI stock opened at $53.62 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The company has a market cap of $2.65 billion, a P/E ratio of 68.74 and a beta of 0.69. Cogent Communications Holdings, Inc. has a twelve month low of $47.54 and a twelve month high of $86.76. The business has a fifty day simple moving average of $63.20 and a 200 day simple moving average of $73.26.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.31. The business had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. On average, sell-side analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 7.50%. Cogent Communications’s payout ratio is presently -93.49%.

Insider Buying and Selling at Cogent Communications

In other news, Director Lewis H. Ferguson sold 956 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now owns 18,652 shares of the company’s stock, valued at $1,293,702.72. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,681 shares of company stock worth $840,878. Insiders own 11.40% of the company’s stock.

Analyst Ratings Changes

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

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.