UBS Asset Management Americas Inc. Has $714,000 Stake in Cogent Communications Holdings, Inc. (CCOI)

UBS Asset Management Americas Inc. held its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,592 shares of the technology company’s stock at the end of the first quarter. UBS Asset Management Americas Inc.’s holdings in Cogent Communications Holdings were worth $714,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in shares of Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock worth $111,000 after buying an additional 1,095 shares during the period. Comerica Bank raised its stake in shares of Cogent Communications Holdings by 3.9% in the first quarter. Comerica Bank now owns 45,403 shares of the technology company’s stock worth $2,039,000 after buying an additional 1,722 shares during the period. Suntrust Banks Inc. raised its stake in shares of Cogent Communications Holdings by 3.9% in the first quarter. Suntrust Banks Inc. now owns 86,244 shares of the technology company’s stock worth $3,712,000 after buying an additional 3,204 shares during the period. Bank of New York Mellon Corp increased its position in Cogent Communications Holdings by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 932,759 shares of the technology company’s stock worth $40,154,000 after buying an additional 20,920 shares in the last quarter. Finally, Elkfork Partners LLC increased its position in Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock worth $148,000 after buying an additional 918 shares in the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) traded up 0.60% during mid-day trading on Wednesday, hitting $43.50. 347,127 shares of the company were exchanged. The company has a 50 day moving average of $42.17 and a 200 day moving average of $41.73. The stock has a market cap of $1.94 billion, a P/E ratio of 124.29 and a beta of 0.74. Cogent Communications Holdings, Inc. has a 12-month low of $34.23 and a 12-month high of $45.25.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The company had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. Cogent Communications Holdings’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities research analysts expect that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.46 dividend. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, August 16th. Cogent Communications Holdings’s payout ratio is currently 488.89%.

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A number of equities analysts have weighed in on CCOI shares. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Cowen and Company lowered shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Deutsche Bank AG reissued a “buy” rating and set a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. BidaskClub lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.45.

In other news, Director Tim Weingarten sold 2,383 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $40.15, for a total transaction of $95,677.45. Following the transaction, the director now directly owns 19,652 shares of the company’s stock, valued at $789,027.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven D. Brooks sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $43.25, for a total value of $432,500.00. Following the transaction, the director now directly owns 26,400 shares in the company, valued at $1,141,800. The disclosure for this sale can be found here. Insiders have sold 27,933 shares of company stock worth $1,169,426 over the last ninety days. 9.48% of the stock is owned by insiders.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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