SG Americas Securities LLC Sells 52,915 Shares of Cogent Communications Holdings Inc (CCOI)

SG Americas Securities LLC reduced its holdings in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 85.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,121 shares of the technology company’s stock after selling 52,915 shares during the quarter. SG Americas Securities LLC’s holdings in Cogent Communications were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Slow Capital Inc. increased its stake in Cogent Communications by 1.8% in the 4th quarter. Slow Capital Inc. now owns 13,619 shares of the technology company’s stock valued at $616,000 after buying an additional 239 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Cogent Communications by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 14,017 shares of the technology company’s stock worth $633,000 after purchasing an additional 280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cogent Communications by 16.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock worth $131,000 after purchasing an additional 408 shares during the last quarter. Ipswich Investment Management Co. Inc. increased its stake in shares of Cogent Communications by 9.9% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 9,405 shares of the technology company’s stock worth $425,000 after purchasing an additional 850 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Cogent Communications by 13.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,981 shares of the technology company’s stock worth $557,000 after purchasing an additional 1,168 shares during the last quarter. Hedge funds and other institutional investors own 91.22% of the company’s stock.

In related news, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $49.16, for a total value of $147,480.00. Following the transaction, the vice president now owns 38,840 shares in the company, valued at approximately $1,909,374.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Timothy G. Oneill sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the vice president now owns 37,652 shares in the company, valued at approximately $1,882,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,050 shares of company stock worth $527,078. 10.21% of the stock is owned by company insiders.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Cogent Communications from a “buy” rating to a “sell” rating in a research note on Wednesday, February 20th. Royal Bank of Canada boosted their price objective on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday. BidaskClub lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. ValuEngine lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, Deutsche Bank upgraded shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Monday, December 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Cogent Communications presently has an average rating of “Hold” and an average price target of $50.14.

Shares of CCOI opened at $48.71 on Friday. Cogent Communications Holdings Inc has a 52 week low of $41.11 and a 52 week high of $57.65. The stock has a market capitalization of $2.36 billion, a P/E ratio of 77.32, a P/E/G ratio of 6.72 and a beta of 0.63.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, February 21st. The technology company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Cogent Communications had a net margin of 5.51% and a negative return on equity of 23.57%. The company had revenue of $132.05 million during the quarter, compared to analyst estimates of $132.63 million. During the same quarter last year, the company posted ($0.14) EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Cogent Communications Holdings Inc will post 0.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $0.58 dividend. The ex-dividend date is Thursday, March 7th. This represents a $2.32 dividend on an annualized basis and a yield of 4.76%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.56. Cogent Communications’s dividend payout ratio is 355.56%.

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Cogent Communications Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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

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