3 days Ago By ABMN Staff
Oppenheimer & Co. Inc. increased its stake in shares of Cogent Communications Holdings, Inc.
( NASDAQ:CCOI – Free Report ) by 26.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,324 shares of the technology company’s stock after acquiring an additional 10,315 shares during the quarter.
Oppenheimer & Co. Inc.’s holdings in Cogent Communications were worth $2,784,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CCOI. Truist Financial Corp increased its position in Cogent Communications by 5.9% during the fourth quarter.
Truist Financial Corp now owns 4,221 shares of the technology company’s stock worth $321,000 after acquiring an additional 237 shares during the period. Charles Schwab Investment Management Inc. increased its position in Cogent Communications by 1.
0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,769 shares of the technology company’s stock worth $34,514,000 after acquiring an additional 4,413 shares during the period.
Jump Financial LLC increased its position in Cogent Communications by 47.8% during the fourth quarter. Jump Financial LLC now owns 5,700 shares of the technology company’s stock worth $434,000 after acquiring an additional 1,843 shares during the period.
Envestnet Portfolio Solutions Inc. bought a new stake in Cogent Communications in the 4th quarter valued at $211,000. Finally, Prairieview Wealth Partners LLC bought a new stake in Cogent Communications in the 4th quarter valued at $634,000.
Institutional investors own 92.45% of the company’s stock. Cogent Communications Stock Up 1.
3 % NASDAQ CCOI opened at $72.90 on Monday. The stock’s 50 day simple moving average is $69.
03 and its 200 day simple moving average is $63.95. The company has a debt-to-equity ratio of 4.
43, a current ratio of 2.20 and a quick ratio of 2.20.
Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.
00. The firm has a market cap of $3.57 billion, a PE ratio of 2.
89 and a beta of 0.40. Cogent Communications Increases Dividend The business also recently announced a quarterly dividend, which was paid on Friday, September 6th.
Stockholders of record on Thursday, August 22nd were given a dividend of $0.985 per share. This represents a $3.
94 dividend on an annualized basis and a dividend yield of 5.40%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.
98. The ex-dividend date of this dividend was Thursday, August 22nd. Cogent Communications’s dividend payout ratio is presently 15.
61%. Wall Street Analyst Weigh In Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $74.
00 target price on shares of Cogent Communications in a research report on Tuesday, September 3rd. Citigroup lifted their price objective on Cogent Communications from $70.00 to $82.
00 and gave the company a “buy” rating in a report on Monday, August 19th. KeyCorp increased their target price on Cogent Communications from $80.00 to $90.
00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on Cogent Communications from $70.
00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, TD Cowen upped their price target on Cogent Communications from $78.
00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock.
According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $75.86. View Our Latest Analysis on Cogent Communications Insider Activity In related news, Director Lewis H.
Ferguson sold 1,550 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $72.62, for a total value of $112,561.
00. Following the completion of the transaction, the director now owns 17,748 shares in the company, valued at approximately $1,288,859.76.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website . In other news, Director Lewis H. Ferguson sold 1,550 shares of Cogent Communications stock in a transaction on Thursday, August 22nd.
The stock was sold at an average price of $72.62, for a total value of $112,561.00.
Following the completion of the sale, the director now directly owns 17,748 shares of the company’s stock, valued at approximately $1,288,859.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link .
Also, CEO Dave Schaeffer sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total value of $4,369,200.
00. Following the sale, the chief executive officer now owns 4,373,038 shares of the company’s stock, valued at approximately $318,444,627.16.
The disclosure for this sale can be found here . Insiders have sold 64,870 shares of company stock valued at $4,716,057 over the last three months. 11.
40% of the stock is owned by insiders. Cogent Communications Profile ( Free Report ) 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.
Further Reading Want to see what other hedge funds are holding CCOI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cogent Communications Holdings, Inc. ( NASDAQ:CCOI – Free Report ).
Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter ..
