Inspire Advisors LLC Sells 1,656 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Inspire Advisors LLC decreased its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 27,693 shares of the technology company’s stock after selling 1,656 shares during the quarter. Inspire Advisors LLC owned 0.06% of Cogent Communications worth $2,134,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Cogent Communications in the fourth quarter valued at about $39,845,000. Bryn Mawr Capital Management LLC increased its stake in Cogent Communications by 8,542.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company’s stock valued at $18,318,000 after acquiring an additional 234,928 shares during the period. Reaves W H & Co. Inc. increased its stake in Cogent Communications by 17.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company’s stock valued at $53,835,000 after acquiring an additional 101,956 shares during the period. Verition Fund Management LLC increased its stake in Cogent Communications by 136.5% in the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock valued at $11,025,000 after acquiring an additional 83,816 shares during the period. Finally, FMR LLC increased its stake in Cogent Communications by 11.0% in the third quarter. FMR LLC now owns 800,758 shares of the technology company’s stock valued at $60,793,000 after acquiring an additional 79,474 shares during the period. Institutional investors own 92.45% of the company’s stock.

Insider Buying and Selling

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the sale, the chief financial officer now directly owns 103,000 shares of the company’s stock, valued at $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Henry W. Kilmer sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total transaction of $362,928.00. Following the sale, the vice president now directly owns 33,800 shares of the company’s stock, valued at approximately $2,555,618. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,525 shares of company stock valued at $1,137,498 over the last ninety days. Insiders own 11.40% of the company’s stock.

Cogent Communications Price Performance

Shares of CCOI stock opened at $69.63 on Tuesday. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The firm’s 50 day moving average is $76.04 and its 200-day moving average is $76.99. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 89.27 and a beta of 0.45. 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 announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $258.49 million. Sell-side analysts forecast 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 will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.77%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications’s payout ratio is -93.49%.

Wall Street Analysts Forecast Growth

CCOI has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research report on Monday, March 3rd. UBS Group initiated coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.25.

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.