Frontier Capital Management Co. LLC reduced its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,581,398 shares of the technology company’s stock after selling 138,681 shares during the period. Frontier Capital Management Co. LLC owned 5.78% of Cogent Communications Holdings worth $103,514,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. LS Investment Advisors LLC raised its stake in shares of Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock valued at $111,000 after buying an additional 1,095 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock valued at $122,000 after buying an additional 756 shares during the last quarter. Sei Investments Co. raised its stake in shares of Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares during the last quarter. Elkfork Partners LLC raised its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock valued at $148,000 after buying an additional 918 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Cogent Communications Holdings during the first quarter valued at approximately $155,000. 94.29% of the stock is currently owned by institutional investors.

Shares of Cogent Communications Holdings, Inc. (CCOI) traded down 0.70% during trading on Friday, reaching $42.80. The company had a trading volume of 24,249 shares. The firm has a market capitalization of $1.91 billion, a P/E ratio of 122.29 and a beta of 0.74. The firm’s 50 day moving average price is $42.38 and its 200 day moving average price is $41.76. Cogent Communications Holdings, Inc. has a 12 month low of $34.23 and a 12 month high of $45.25.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $119.80 million for the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. Cogent Communications Holdings’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. Equities analysts predict that Cogent Communications Holdings, Inc. will post $0.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio is 511.11%.

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Several analysts have commented on the company. Cowen and Company reissued a “hold” rating and issued a $46.00 price objective on shares of Cogent Communications Holdings in a report on Friday, August 4th. Royal Bank Of Canada raised their price objective on Cogent Communications Holdings from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Zacks Investment Research downgraded Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. BidaskClub downgraded Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Citigroup Inc. raised their target price on Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Cogent Communications Holdings presently has an average rating of “Hold” and an average target price of $42.45.

In other Cogent Communications Holdings news, CFO Thaddeus Gerard Weed sold 2,250 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.51, for a total transaction of $97,897.50. Following the sale, the chief financial officer now owns 72,650 shares in the company, valued at approximately $3,161,001.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total value of $120,600.00. Following the sale, the vice president now owns 53,240 shares in the company, valued at approximately $2,140,248. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,933 shares of company stock worth $1,169,426. 9.48% of the stock is owned by insiders.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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

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