Denver Investment Advisors LLC boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,250 shares of the technology company’s stock after buying an additional 1,510 shares during the period. Denver Investment Advisors LLC’s holdings in Cogent Communications Holdings were worth $852,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Cogent Communications Holdings by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 174,471 shares of the technology company’s stock worth $7,511,000 after buying an additional 524 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Cogent Communications Holdings by 35.3% in the first quarter. OppenheimerFunds Inc. now owns 8,785 shares of the technology company’s stock worth $378,000 after buying an additional 2,291 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Cogent Communications Holdings by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 74,032 shares of the technology company’s stock worth $3,061,000 after buying an additional 3,444 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock worth $111,000 after buying an additional 1,095 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Cogent Communications Holdings by 0.7% in the first quarter. Parametric Portfolio Associates LLC now owns 146,097 shares of the technology company’s stock worth $6,289,000 after buying an additional 962 shares in the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.

Shares of Cogent Communications Holdings, Inc. (CCOI) opened at 42.25 on Friday. The company has a 50-day moving average of $42.46 and a 200 day moving average of $41.76. The firm has a market cap of $1.89 billion, a P/E ratio of 120.71 and a beta of 0.74. Cogent Communications Holdings, Inc. has a 12-month low of $34.23 and a 12-month high of $45.25.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The business had revenue of $119.80 million during the quarter, compared to analyst estimates of $120.23 million. During the same period in the previous year, the company earned $0.09 EPS. Cogent Communications Holdings’s revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.84 annualized dividend and a dividend yield of 4.36%. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio is presently 511.11%.

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A number of analysts have recently issued reports on CCOI shares. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Cowen and Company downgraded shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price target for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Deutsche Bank AG restated a “buy” rating and set a $48.00 price target (up previously from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. BidaskClub downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Royal Bank Of Canada raised their price target on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $42.45.

In other news, VP Henry W. Kilmer sold 3,000 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $40.80, for a total value of $122,400.00. Following the completion of the sale, the vice president now owns 39,600 shares of the company’s stock, valued at $1,615,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven D. Brooks sold 10,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.25, for a total transaction of $432,500.00. Following the completion of the sale, the director now directly owns 26,400 shares of the company’s stock, valued at approximately $1,141,800. The disclosure for this sale can be found here. Insiders sold 27,933 shares of company stock valued at $1,169,426 in the last three months. Company insiders own 9.48% of the company’s stock.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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