The Manufacturers Life Insurance Company lowered its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,102 shares of the technology company’s stock after selling 22 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Cogent Communications Holdings worth $1,288,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CCOI. BlackRock Inc. raised its stake in Cogent Communications Holdings by 125,208.8% during the 1st quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock valued at $213,356,000 after acquiring an additional 4,952,008 shares in the last quarter. Copeland Capital Management LLC bought a new stake in Cogent Communications Holdings during the 2nd quarter valued at $10,759,000. First Trust Advisors LP raised its stake in Cogent Communications Holdings by 23.0% during the 2nd quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock valued at $56,685,000 after acquiring an additional 264,597 shares in the last quarter. Renaissance Technologies LLC raised its stake in Cogent Communications Holdings by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock valued at $82,550,000 after acquiring an additional 245,100 shares in the last quarter. Finally, River Road Asset Management LLC bought a new stake in Cogent Communications Holdings during the 2nd quarter valued at $8,800,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on CCOI. Citigroup Inc. downgraded Cogent Communications Holdings from a “neutral” rating to a “sell” rating and cut their target price for the company from $43.00 to $39.00 in a research note on Thursday, November 2nd. BidaskClub downgraded Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and set a $46.00 target price on shares of Cogent Communications Holdings in a research note on Friday, August 4th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Cogent Communications Holdings in a research report on Friday, November 3rd. Finally, Off Wall Street initiated coverage on Cogent Communications Holdings in a research report on Monday, July 31st. They set a “sell” rating and a $29.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.77.

In related news, VP Timothy G. Oneill sold 1,000 shares of Cogent Communications Holdings stock in a transaction on Friday, September 1st. The stock was sold at an average price of $46.60, for a total value of $46,600.00. Following the transaction, the vice president now directly owns 41,052 shares in the company, valued at approximately $1,913,023.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Raymond B. Kummer sold 2,000 shares of Cogent Communications Holdings stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $45.78, for a total value of $91,560.00. Following the completion of the transaction, the vice president now owns 59,140 shares in the company, valued at $2,707,429.20. The disclosure for this sale can be found here. Insiders sold a total of 17,716 shares of company stock worth $828,227 over the last 90 days. Insiders own 9.48% of the company’s stock.

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Cogent Communications Holdings, Inc. (NASDAQ CCOI) opened at $45.50 on Friday. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84. The stock has a market capitalization of $2,104.74, a price-to-earnings ratio of 127.22, a P/E/G ratio of 11.95 and a beta of 0.65. Cogent Communications Holdings, Inc. has a 1-year low of $35.75 and a 1-year high of $54.85.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The company had revenue of $123.00 million during the quarter, compared to analyst estimates of $123.60 million. Cogent Communications Holdings had a negative return on equity of 23.86% and a net margin of 3.37%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. analysts anticipate that Cogent Communications Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 17th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.22%. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 16th. Cogent Communications Holdings’s payout ratio is presently 511.11%.

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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