New Age Alpha Advisors LLC Takes $186,000 Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

New Age Alpha Advisors LLC acquired a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,419 shares of the technology company’s stock, valued at approximately $186,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Cogent Communications during the third quarter worth $30,000. Hillsdale Investment Management Inc. bought a new stake in shares of Cogent Communications during the 4th quarter worth about $46,000. Blue Trust Inc. grew its stake in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after buying an additional 218 shares during the last quarter. BankPlus Trust Department bought a new position in Cogent Communications in the 4th quarter valued at about $63,000. Finally, Jones Financial Companies Lllp lifted its position in Cogent Communications by 132.1% during the fourth quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock worth $67,000 after acquiring an additional 498 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,425 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.96, for a total value of $103,968.00. Following the sale, the director now owns 10,147 shares in the company, valued at $740,325.12. This trade represents a 12.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lewis H. Ferguson sold 956 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now 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 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 owned by insiders.

Cogent Communications Stock Performance

NASDAQ:CCOI opened at $61.65 on Thursday. 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 fifty-two week low of $50.80 and a fifty-two week high of $86.76. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 79.04 and a beta of 0.45. The stock has a fifty day moving average price of $73.49 and a 200-day moving average price of $76.35.

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

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued 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 dividend yield of 6.52%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is -93.49%.

Analyst Upgrades and Downgrades

Separately, 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, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.