600 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. purchased a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 600 shares of the technology company’s stock, valued at approximately $46,000.

Several other large investors have also made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cogent Communications by 4.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock worth $400,000 after buying an additional 212 shares in the last quarter. Blue Trust Inc. lifted its stake in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Cogent Communications by 0.6% during the 4th quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock valued at $2,611,000 after purchasing an additional 218 shares during the last quarter. Xponance Inc. grew its position in shares of Cogent Communications by 10.9% during the fourth quarter. Xponance Inc. now owns 3,189 shares of the technology company’s stock valued at $246,000 after purchasing an additional 313 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Cogent Communications by 0.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 50,436 shares of the technology company’s stock worth $3,887,000 after purchasing an additional 326 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other Cogent Communications news, Director Lewis H. Ferguson sold 956 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total value of $66,308.16. Following the transaction, the director now directly owns 18,652 shares in the company, valued at $1,293,702.72. This represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheryl Lynn Kennedy sold 1,425 shares of Cogent Communications stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total transaction of $103,968.00. Following the sale, the director now directly owns 10,147 shares of the company’s stock, valued at $740,325.12. This represents a 12.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is currently owned by insiders.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $68.15 on Tuesday. The business’s 50 day moving average price is $75.01 and its 200-day moving average price is $76.86. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The company has a market cap of $3.34 billion, a P/E ratio of 87.37 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The business had revenue of $252.29 million for the quarter, compared to analysts’ expectations of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a $1.005 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.02 annualized dividend and a yield of 5.90%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

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.