First Washington CORP held its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,150 shares of the technology company’s stock at the close of the 2nd quarter. Cogent Communications Holdings comprises approximately 2.1% of First Washington CORP’s portfolio, making the stock its 15th biggest holding. First Washington CORP owned 0.24% of Cogent Communications Holdings worth $4,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC grew its stake in Cogent Communications Holdings by 0.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock valued at $288,000 after acquiring an additional 38 shares in the last quarter. Aperio Group LLC grew its stake in Cogent Communications Holdings by 1.1% during the 2nd quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after acquiring an additional 99 shares in the last quarter. Arizona State Retirement System grew its stake in Cogent Communications Holdings by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock valued at $858,000 after acquiring an additional 100 shares in the last quarter. Texas Permanent School Fund grew its stake in Cogent Communications Holdings by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 29,897 shares of the technology company’s stock valued at $1,199,000 after acquiring an additional 253 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Cogent Communications Holdings by 0.5% during the 1st quarter. Prudential Financial Inc. now owns 70,419 shares of the technology company’s stock valued at $3,032,000 after acquiring an additional 330 shares in the last quarter. 93.54% of the stock is owned by institutional investors.

In related news, Director Tim Weingarten sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $46.69, for a total value of $51,359.00. Following the completion of the sale, the director now directly owns 20,302 shares in the company, valued at $947,900.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Henry W. Kilmer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $46.45, for a total transaction of $139,350.00. Following the completion of the sale, the vice president now owns 36,600 shares of the company’s stock, valued at $1,700,070. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,483 shares of company stock valued at $1,291,724. 9.48% of the stock is owned by insiders.

Several analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Cowen and Company reissued a “hold” rating and issued a $46.00 price target on shares of Cogent Communications Holdings in a research note on Friday, August 4th. BidaskClub cut shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Off Wall Street started coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 price target for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Cogent Communications Holdings has a consensus rating of “Hold” and an average target price of $42.45.

Cogent Communications Holdings, Inc. (CCOI) traded up 1.25% during trading on Tuesday, hitting $44.60. 48,634 shares of the company were exchanged. The company has a 50-day moving average of $43.84 and a 200-day moving average of $42.07. Cogent Communications Holdings, Inc. has a 12 month low of $34.23 and a 12 month high of $47.12. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 127.43 and a beta of 0.71.

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

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.18%. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, August 16th. Cogent Communications Holdings’s payout ratio is presently 511.11%.

TRADEMARK VIOLATION NOTICE: This article was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/09/12/cogent-communications-holdings-inc-ccoi-holdings-held-by-first-washington-corp.html.

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.

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

Receive News & Stock Ratings for Cogent Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Holdings Inc. and related stocks with our FREE daily email newsletter.