Loomis Sayles & Co. L P Takes $7.08 Million Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Loomis Sayles & Co. L P bought a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 91,910 shares of the technology company’s stock, valued at approximately $7,084,000. Loomis Sayles & Co. L P owned about 0.19% of Cogent Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Cogent Communications in the 3rd quarter valued at approximately $30,000. Quest Partners LLC bought a new stake in shares of Cogent Communications in the third quarter worth $46,000. Hillsdale Investment Management Inc. acquired a new stake in Cogent Communications in the fourth quarter valued at $46,000. Blue Trust Inc. boosted its stake in Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after acquiring an additional 218 shares during the last quarter. Finally, BankPlus Trust Department acquired a new position in Cogent Communications during the 4th quarter worth $63,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

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

Cogent Communications Trading Up 0.1 %

NASDAQ CCOI opened at $61.57 on Friday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company has a 50-day simple moving average of $74.21 and a 200-day simple moving average of $76.56. The firm has a market capitalization of $3.02 billion, a PE ratio of 78.94 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The company 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%. On average, equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were given a $1.005 dividend. The ex-dividend date was Thursday, March 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 6.53%. Cogent Communications’s dividend payout ratio (DPR) is currently -93.49%.

Insider Activity

In other news, CFO Thaddeus Gerard Weed sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Henry W. Kilmer sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $72.57, for a total value of $174,168.00. Following the completion of the sale, the vice president now owns 41,000 shares in the company, valued at approximately $2,975,370. This represents a 5.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is currently owned by company insiders.

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.