8,110 Shares in Cogent Communications Holdings Inc (NASDAQ:CCOI) Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC purchased a new stake in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,110 shares of the technology company’s stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quantamental Technologies LLC purchased a new stake in shares of Cogent Communications during the fourth quarter worth $69,000. Advisor Group Inc. increased its position in Cogent Communications by 43.3% during the fourth quarter. Advisor Group Inc. now owns 1,609 shares of the technology company’s stock worth $72,000 after buying an additional 486 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cogent Communications by 16.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock worth $131,000 after buying an additional 408 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Cogent Communications during the third quarter worth $218,000. Finally, Neuberger Berman Group LLC acquired a new position in Cogent Communications during the third quarter worth $241,000. 90.45% of the stock is owned by hedge funds and other institutional investors.

In other Cogent Communications news, VP Raymond B. Kummer sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $56.10, for a total transaction of $168,300.00. Following the completion of the transaction, the vice president now owns 43,240 shares in the company, valued at $2,425,764. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $48.96, for a total transaction of $97,920.00. Following the transaction, the vice president now owns 35,652 shares of the company’s stock, valued at approximately $1,745,521.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,150 shares of company stock worth $1,229,209. 10.17% of the stock is owned by company insiders.

Shares of NASDAQ:CCOI opened at $55.27 on Friday. Cogent Communications Holdings Inc has a 52-week low of $42.40 and a 52-week high of $57.92. The stock has a market capitalization of $2.56 billion, a PE ratio of 87.73, a price-to-earnings-growth ratio of 7.96 and a beta of 0.71.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, February 21st. The technology company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Cogent Communications had a negative return on equity of 23.57% and a net margin of 5.51%. The firm had revenue of $132.05 million for the quarter, compared to analyst estimates of $132.63 million. During the same period last year, the business earned ($0.14) earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Cogent Communications Holdings Inc will post 0.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $0.58 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Cogent Communications’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a yield of 4.20%. Cogent Communications’s dividend payout ratio (DPR) is 368.25%.

Several research firms have commented on CCOI. BidaskClub raised shares of Cogent Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Zacks Investment Research downgraded shares of Cogent Communications from a “buy” rating to a “sell” rating in a research report on Wednesday, February 20th. ValuEngine raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada increased their target price on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.14.

ILLEGAL ACTIVITY WARNING: “8,110 Shares in Cogent Communications Holdings Inc (NASDAQ:CCOI) Acquired by Gotham Asset Management LLC” was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/04/27/gotham-asset-management-llc-acquires-shares-of-8110-cogent-communications-holdings-inc-ccoi.html.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

Further Reading: What does RSI mean?

Institutional Ownership by Quarter for Cogent Communications (NASDAQ:CCOI)

Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter.