Eaton Vance Management raised its position in Cogent Communications Holdings, Inc. (NASDAQ: CCOI – Get Rating) by 51.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,452 shares of the technology company stock after acquiring an additional 3,230 shares during the quarter. Eaton Vance Management’s holdings in Cogent Communications were worth $ 315,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in Cogent Communications in the fourth quarter valued at about $ 59,000. Huntington National Bank lifted its holdings in Cogent Communications by 3,905.0% in the fourth quarter. Huntington National Bank now owns 801 shares of the technology company stock valued at $ 59,000 after acquiring an additional 781 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Cogent Communications by 41.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 792 shares of the technology company stock valued at $ 59,000 after acquiring an additional 233 shares during the period. Point72 Hong Kong Ltd bought a new position in Cogent Communications in the third quarter valued at about $ 64,000. Finally, Lazard Asset Management LLC bought a new position in shares of Cogent Communications in the fourth quarter worth about $ 64,000. 86.06% of the stock is currently owned by institutional investors.
Several research firms have recently commented on CCOI. Citigroup decreased their price objective on Cogent Communications from $ 73.00 to $ 70.00 in a research note on Monday, May 2nd. TheStreet downgraded Cogent Communications from a “b-” rating to a “c” rating in a research note on Friday, April 29th. JPMorgan Chase & Co. raised Cogent Communications from a “neutral” rating to an “overweight” rating and set a $ 82.00 price objective on the stock in a research note on Thursday, February 10th. Finally, StockNews.com raised Cogent Communications from a “hold” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $ 72.50.
Shares of CCOI opened at $ 60.09 on Friday. The business’s 50 day moving average is $ 62.21 and its 200 day moving average is $ 65.67. The company has a market capitalization of $ 2.88 billion, a PE ratio of 93.89 and a beta of 0.31. Cogent Communications Holdings, Inc. has a 12-month low of $ 55.16 and a 12-month high of $ 80.50.
Cogent Communications (NASDAQ: CCOI – Get Rating) last issued its earnings results on Friday, April 29th. The technology company reported $ 0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 0.20 by ($ 0.18). The business had revenue of $ 149.20 million for the quarter, compared to the estimate consensus of $ 149.10 million. Cogent Communications had a net margin of 5.15% and a negative return on equity of 6.39%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $ 0.41 EPS. On average, equities research analysts predict that Cogent Communications Holdings, Inc. will post 0.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were paid a dividend of $ 0.88 per share. This represents a $ 3.52 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend was Thursday, May 12th. This is an increase from Cogent Communications’s previous quarterly dividend of $ 0.86. Cogent Communications’s dividend payout ratio (DPR) is 550.01%.
In other Cogent Communications news, VP John B. Chang sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $ 62.96, for a total transaction of $ 37,776.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lewis H. Ferguson sold 950 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $ 60.72, for a total value of $ 57,684.00. Following the transaction, the director now owns 12,887 shares of the company stock, valued at approximately $ 782,498.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,120 shares of company stock worth $ 673,574 in the last three months. 11.00% of the stock is owned by corporate insiders.
Cogent Communications Profile: (Get Rating)
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, 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.
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