Russell Investments Group Ltd. boosted its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 36.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,098 shares of the technology company’s stock after buying an additional 29,900 shares during the period. Russell Investments Group Ltd. owned about 0.25% of Cogent Communications Holdings worth $4,496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Cogent Communications Holdings by 125,208.8% in the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock worth $213,356,000 after buying an additional 4,952,008 shares during the period. Copeland Capital Management LLC purchased a new position in Cogent Communications Holdings during the second quarter worth about $10,759,000. Renaissance Technologies LLC boosted its position in Cogent Communications Holdings by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,813,500 shares of the technology company’s stock worth $78,071,000 after buying an additional 187,400 shares during the period. FMR LLC boosted its position in Cogent Communications Holdings by 5.9% in the first quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock worth $134,256,000 after buying an additional 173,379 shares during the period. Finally, First Trust Advisors LP boosted its position in Cogent Communications Holdings by 12.6% in the first quarter. First Trust Advisors LP now owns 1,148,991 shares of the technology company’s stock worth $49,464,000 after buying an additional 128,414 shares during the period. Institutional investors own 94.29% of the company’s stock.

Cogent Communications Holdings, Inc. (NASDAQ CCOI) traded down 0.22% on Friday, reaching $44.60. 113,833 shares of the company traded hands. The stock has a 50-day moving average of $42.76 and a 200 day moving average of $41.81. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $45.25. The company has a market capitalization of $1.99 billion, a PE ratio of 127.43 and a beta of 0.74.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The business had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities analysts forecast that Cogent Communications Holdings, Inc. will post $0.48 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.12%. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, August 16th. Cogent Communications Holdings’s payout ratio is presently 511.11%.

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CCOI has been the subject of a number of research analyst reports. Off Wall Street initiated coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 target price for the company. BidaskClub cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Zacks Investment Research upgraded shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Cogent Communications Holdings in a research note on Thursday, May 25th. Finally, Cowen and Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.45.

In other news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total value of $40,250.00. Following the completion of the sale, the vice president now directly owns 43,052 shares in the company, valued at approximately $1,732,843. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven D. Brooks sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $43.25, for a total transaction of $432,500.00. Following the completion of the sale, the director now owns 26,400 shares of the company’s stock, valued at $1,141,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,933 shares of company stock valued at $1,169,426. Company insiders own 9.48% of the company’s stock.

About Cogent Communications Holdings

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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