Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Bought by Harber Asset Management LLC

Harber Asset Management LLC boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 66,041 shares of the technology company’s stock after buying an additional 925 shares during the period. Cogent Communications accounts for approximately 1.5% of Harber Asset Management LLC’s holdings, making the stock its 28th biggest holding. Harber Asset Management LLC’s holdings in Cogent Communications were worth $5,090,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CCOI. CenterBook Partners LP raised its position in shares of Cogent Communications by 89.4% during the 4th quarter. CenterBook Partners LP now owns 39,594 shares of the technology company’s stock worth $3,052,000 after buying an additional 18,694 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cogent Communications in the 4th quarter worth $39,845,000. Bank of Montreal Can raised its holdings in shares of Cogent Communications by 6.2% during the fourth quarter. Bank of Montreal Can now owns 14,432 shares of the technology company’s stock valued at $1,112,000 after acquiring an additional 848 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Cogent Communications during the fourth quarter valued at $623,000. Finally, Thoroughbred Financial Services LLC grew its stake in Cogent Communications by 8.7% during the 4th quarter. Thoroughbred Financial Services LLC now owns 6,355 shares of the technology company’s stock valued at $489,000 after acquiring an additional 508 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cogent Communications news, VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the transaction, the vice president now owns 41,000 shares of the company’s stock, valued at $2,975,370. The trade was a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lewis H. Ferguson sold 956 shares of Cogent Communications stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the transaction, the director now owns 18,652 shares of the company’s stock, valued at $1,293,702.72. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,681 shares of company stock valued at $840,878. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Stock Performance

Shares of NASDAQ:CCOI opened at $51.73 on Monday. Cogent Communications Holdings, Inc. has a twelve month low of $47.54 and a twelve month high of $86.76. The firm has a market cap of $2.55 billion, a PE ratio of 66.32 and a beta of 0.69. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The business has a fifty day moving average of $69.57 and a 200-day moving average of $75.16.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share 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 business had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. On average, equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 7.77%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 13th. Cogent Communications’s payout ratio is presently -93.49%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.25.

About Cogent Communications

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.