Jane Street Group LLC bought a new position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,198 shares of the technology company’s stock, valued at approximately $281,000.
Several other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of Cogent Communications during the 4th quarter valued at $416,000. Teachers Advisors LLC raised its holdings in shares of Cogent Communications by 3.4% during the 4th quarter. Teachers Advisors LLC now owns 77,422 shares of the technology company’s stock valued at $3,507,000 after purchasing an additional 2,568 shares in the last quarter. HBK Investments L P bought a new position in shares of Cogent Communications during the 4th quarter valued at $276,000. Two Sigma Advisers LP raised its holdings in shares of Cogent Communications by 50.0% during the 4th quarter. Two Sigma Advisers LP now owns 15,300 shares of the technology company’s stock valued at $693,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Cogent Communications by 8.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 595,459 shares of the technology company’s stock valued at $26,975,000 after purchasing an additional 46,215 shares in the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.
A number of research analysts have recently weighed in on the stock. William Blair restated a “buy” rating on shares of Cogent Communications in a report on Wednesday, April 4th. ValuEngine upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. BidaskClub upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Guggenheim assumed coverage on shares of Cogent Communications in a report on Tuesday, March 13th. They set a “neutral” rating and a $45.00 price target on the stock. Finally, Deutsche Bank cut their price target on shares of Cogent Communications from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Cogent Communications has a consensus rating of “Hold” and a consensus price target of $44.20.
Shares of CCOI opened at $46.70 on Tuesday. The firm has a market capitalization of $2,110.26, a P/E ratio of 122.89, a PEG ratio of 6.11 and a beta of 0.49. Cogent Communications Holdings, Inc. has a one year low of $35.75 and a one year high of $54.85. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of -6.93.
Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $125.20 million during the quarter, compared to the consensus estimate of $126.27 million. Cogent Communications had a negative return on equity of 21.64% and a net margin of 1.21%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. research analysts expect that Cogent Communications Holdings, Inc. will post 0.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 26th. Investors of record on Friday, March 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Thursday, March 8th. This is an increase from Cogent Communications’s previous quarterly dividend of $0.48. Cogent Communications’s dividend payout ratio (DPR) is 526.32%.
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About Cogent Communications
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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