Y Intercept Hong Kong Ltd Acquires New Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Y Intercept Hong Kong Ltd acquired a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,252 shares of the technology company’s stock, valued at approximately $867,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCOI. Itau Unibanco Holding S.A. bought a new stake in Cogent Communications in the 3rd quarter valued at about $30,000. Blue Trust Inc. raised its stake in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after acquiring an additional 272 shares during the period. Quest Partners LLC bought a new stake in Cogent Communications in the 3rd quarter valued at about $46,000. KBC Group NV raised its stake in Cogent Communications by 28.7% in the 3rd quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock valued at $111,000 after acquiring an additional 326 shares during the period. Finally, SteelPeak Wealth LLC bought a new stake in Cogent Communications in the 3rd quarter valued at about $204,000. 92.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.25.

Insider Transactions at Cogent Communications

In related news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $81.42, for a total value of $156,326.40. Following the completion of the sale, the executive now owns 51,462 shares in the company, valued at $4,190,036.04. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $81.58, for a total value of $391,584.00. Following the completion of the sale, the chief financial officer now owns 88,500 shares of the company’s stock, valued at $7,219,830. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,440 shares of company stock valued at $1,057,910. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Stock Down 9.5 %

CCOI stock opened at $72.46 on Friday. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market capitalization of $3.55 billion, a PE ratio of 92.90 and a beta of 0.40. The stock has a 50-day simple moving average of $76.72 and a two-hundred day simple moving average of $77.04.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million during the quarter, compared to analyst estimates of $258.49 million. On average, equities analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.55%. Cogent Communications’s payout ratio is presently 510.26%.

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.