Copeland Capital Management LLC Has $540,000 Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Copeland Capital Management LLC cut its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 99.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,006 shares of the technology company’s stock after selling 752,273 shares during the quarter. Copeland Capital Management LLC’s holdings in Cogent Communications were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Cogent Communications in the 3rd quarter worth about $30,000. Blue Trust Inc. grew its position in Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Cogent Communications by 72.9% during 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. raised its holdings in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Cogent Communications in the 3rd quarter valued at $46,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, UBS Group initiated coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cogent Communications has a consensus rating of “Hold” and an average price target of $80.25.

Insider Activity at Cogent Communications

In other Cogent Communications news, Director Blake Bath sold 6,220 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $83.69, for a total value of $520,551.80. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $836,900. This represents a 38.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Henry W. Kilmer sold 4,800 shares of Cogent Communications stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the sale, the vice president now directly owns 33,800 shares in the company, valued at $2,555,618. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,136 shares of company stock worth $1,939,749 in the last ninety days. 11.40% of the stock is currently owned by insiders.

Cogent Communications Stock Up 0.7 %

CCOI stock opened at $75.34 on Monday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 96.59 and a beta of 0.40. The company has a 50-day moving average of $76.15 and a two-hundred day moving average of $75.45. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm had revenue of $257.20 million during the quarter, compared to the consensus estimate of $258.69 million. During the same quarter in the prior year, the company earned ($1.13) EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.995 per share. The ex-dividend date was Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 5.28%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s payout ratio is 510.26%.

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.