Gilder Gagnon Howe & Co. LLC increased its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,186 shares of the technology company’s stock after buying an additional 38 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Cogent Communications Holdings were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCOI. Sei Investments Co. raised its position in shares of Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares during the period. Texas Permanent School Fund raised its position in shares of Cogent Communications Holdings by 0.9% in the second quarter. Texas Permanent School Fund now owns 29,897 shares of the technology company’s stock valued at $1,199,000 after buying an additional 253 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Cogent Communications Holdings by 0.9% in the second quarter. Great West Life Assurance Co. Can now owns 521,652 shares of the technology company’s stock valued at $20,874,000 after buying an additional 4,471 shares during the period. Boston Financial Mangement LLC raised its position in shares of Cogent Communications Holdings by 15.8% in the second quarter. Boston Financial Mangement LLC now owns 338,647 shares of the technology company’s stock valued at $13,580,000 after buying an additional 46,246 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Cogent Communications Holdings by 4.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,670 shares of the technology company’s stock valued at $388,000 after buying an additional 370 shares during the period. Institutional investors own 93.99% of the company’s stock.

Shares of Cogent Communications Holdings, Inc. (CCOI) opened at 44.05 on Friday. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $45.25. The firm’s 50-day moving average is $41.79 and its 200 day moving average is $41.69. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 125.86 and a beta of 0.74.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $120.23 million. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Cogent Communications Holdings, Inc. will post $0.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.46 dividend. The ex-dividend date is Wednesday, August 16th. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.17%. Cogent Communications Holdings’s payout ratio is 488.89%.

WARNING: “Gilder Gagnon Howe & Co. LLC Boosts Stake in Cogent Communications Holdings, Inc. (CCOI)” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/gilder-gagnon-howe-co-llc-boosts-stake-in-cogent-communications-holdings-inc-ccoi/1472998.html.

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday. Cowen and Company reiterated a “hold” rating and issued a $46.00 target price on shares of Cogent Communications Holdings in a research report on Friday, August 4th. BidaskClub lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Off Wall Street assumed coverage on shares of Cogent Communications Holdings in a research report on Monday, July 31st. They issued a “sell” rating and a $29.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.45.

In other news, Director Steven D. Brooks sold 10,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.25, for a total value of $432,500.00. Following the sale, the director now directly owns 26,400 shares in the company, valued at approximately $1,141,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $40.20, for a total transaction of $120,600.00. Following the completion of the sale, the vice president now owns 53,240 shares in the company, valued at $2,140,248. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,433 shares of company stock worth $1,147,646. 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.

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).

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

Receive News & Ratings for Cogent Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.