Thoroughbred Financial Services LLC Has $489,000 Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Thoroughbred Financial Services LLC boosted its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,355 shares of the technology company’s stock after purchasing an additional 508 shares during the period. Thoroughbred Financial Services LLC’s holdings in Cogent Communications were worth $489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Crescent Park Management L.P. grew its stake in shares of Cogent Communications by 1.2% in the 4th quarter. Crescent Park Management L.P. now owns 83,523 shares of the technology company’s stock valued at $6,437,000 after buying an additional 1,002 shares in the last quarter. Franklin Resources Inc. grew its position in Cogent Communications by 5.8% in the fourth quarter. Franklin Resources Inc. now owns 4,835 shares of the technology company’s stock worth $373,000 after acquiring an additional 263 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Cogent Communications by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 52,770 shares of the technology company’s stock worth $4,067,000 after purchasing an additional 327 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Cogent Communications by 18.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,085 shares of the technology company’s stock valued at $469,000 after purchasing an additional 945 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Cogent Communications in the 4th quarter valued at $186,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Down 5.3 %

CCOI stock opened at $56.92 on Monday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 72.97 and a beta of 0.69. The company has a 50-day moving average of $72.81 and a two-hundred day moving average of $76.22. 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, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.31. The firm had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. 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, March 28th. Investors of record on Thursday, March 13th were given a dividend of $1.005 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 7.06%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is -93.49%.

Insider Activity at Cogent Communications

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

Wall Street Analyst Weigh In

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

Cogent Communications 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.