SG Capital Management LLC Buys 103,498 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

SG Capital Management LLC grew its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 105.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,916 shares of the technology company’s stock after buying an additional 103,498 shares during the quarter. Cogent Communications accounts for about 1.5% of SG Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. SG Capital Management LLC owned about 0.41% of Cogent Communications worth $15,562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Hillsdale Investment Management Inc. acquired a new position in Cogent Communications during the 4th quarter worth approximately $46,000. Blue Trust Inc. lifted its position in shares of Cogent Communications by 53.8% in the fourth 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. Itau Unibanco Holding S.A. boosted its holdings in Cogent Communications by 58.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company’s stock worth $48,000 after purchasing an additional 229 shares during the last quarter. BankPlus Trust Department acquired a new position in Cogent Communications during the fourth quarter worth $63,000. Finally, Jones Financial Companies Lllp grew its position in Cogent Communications by 132.1% in the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock valued at $67,000 after purchasing an additional 498 shares in the last quarter. Institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CCOI shares. The Goldman Sachs Group reduced their price objective on shares of Cogent Communications from $71.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. UBS Group decreased their price target on Cogent Communications from $102.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, StockNews.com upgraded Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.75.

Cogent Communications Stock Performance

Shares of NASDAQ CCOI opened at $50.41 on Friday. The stock has a 50 day moving average of $57.51 and a 200-day moving average of $70.70. Cogent Communications Holdings, Inc. has a 12 month low of $45.00 and a 12 month high of $86.76. The company has a market capitalization of $2.49 billion, a P/E ratio of 64.63 and a beta of 0.76. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.04). The company had revenue of $247.05 million for the quarter, compared to analyst estimates of $250.81 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the business earned ($1.38) earnings per share. As a group, equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.01%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Thursday, May 22nd. Cogent Communications’s payout ratio is presently -100.75%.

Insider Activity at Cogent Communications

In related news, VP Henry W. Kilmer sold 2,400 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the sale, the vice president now owns 41,000 shares in the company, valued at approximately $2,975,370. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO James Bubeck sold 2,000 shares of Cogent Communications stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total transaction of $143,340.00. Following the completion of the transaction, the executive now directly owns 57,142 shares in the company, valued at $4,095,367.14. This trade represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,681 shares of company stock worth $840,878. Company insiders own 11.40% of the company’s stock.

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.