Richard P Slaughter Associates Inc Sells 336 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Richard P Slaughter Associates Inc cut its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,627 shares of the technology company’s stock after selling 336 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Cogent Communications were worth $896,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Ipswich Investment Management Co. Inc. raised its stake in Cogent Communications by 0.5% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock valued at $3,119,000 after purchasing an additional 185 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after buying an additional 226 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cogent Communications by 5.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock worth $378,000 after buying an additional 262 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares during the last quarter. Finally, Capstone Triton Financial Group LLC grew its stake in Cogent Communications by 3.1% during the third quarter. Capstone Triton Financial Group LLC now owns 10,401 shares of the technology company’s stock valued at $790,000 after acquiring an additional 313 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cogent Communications

In other news, Director Lewis H. Ferguson sold 846 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.76, for a total value of $69,168.96. Following the completion of the transaction, the director now owns 18,354 shares of the company’s stock, valued at approximately $1,500,623.04. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sheryl Lynn Kennedy sold 1,350 shares of Cogent Communications stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.58, for a total value of $108,783.00. Following the completion of the transaction, the director now owns 10,318 shares of the company’s stock, valued at $831,424.44. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,136 shares of company stock worth $1,939,749. Company insiders own 11.40% of the company’s stock.

Cogent Communications Trading Up 0.6 %

CCOI stock opened at $71.96 on Wednesday. The firm has a market cap of $3.53 billion, a P/E ratio of 92.26 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The company’s 50-day simple moving average is $78.23 and its 200-day simple moving average is $74.07. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($1.34) by $0.01. The business had revenue of $257.20 million during the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.13) earnings per share. As a group, equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.995 dividend. This represents a $3.98 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Friday, November 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio is 510.26%.

Analyst Ratings Changes

Several brokerages have commented on CCOI. UBS Group initiated coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. The Goldman Sachs Group increased their price target on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $80.25.

Cogent Communications Profile

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.