Bank of Montreal Can Has $2.28 Million Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Bank of Montreal Can reduced its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 38.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,761 shares of the technology company’s stock after selling 36,071 shares during the period. Bank of Montreal Can owned 0.13% of Cogent Communications Holdings worth $2,275,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. LS Investment Advisors LLC raised its position in 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 during the period. Glen Harbor Capital Management LLC increased its stake in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares during the period. Elkfork Partners LLC increased its stake in Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock worth $148,000 after buying an additional 918 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Cogent Communications Holdings during the first quarter worth approximately $155,000. Finally, State of Alaska Department of Revenue increased its stake in Cogent Communications Holdings by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,520 shares of the technology company’s stock worth $194,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Cogent Communications Holdings, Inc. (CCOI) traded down 1.02% during mid-day trading on Friday, reaching $43.60. The company’s stock had a trading volume of 98,800 shares. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 124.57 and a beta of 0.74. Cogent Communications Holdings, Inc. has a 1-year low of $34.23 and a 1-year high of $45.25. The firm has a 50-day moving average of $41.79 and a 200 day moving average of $41.69.

Cogent Communications Holdings (NASDAQ:CCOI) last announced 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. The business had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Equities analysts expect that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current year.

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

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A number of equities research analysts have commented on CCOI shares. Citigroup Inc. raised their target price on Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research downgraded Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Cowen and Company downgraded Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 target price for the company. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 target price on shares of Cogent Communications Holdings in a report on Thursday, May 25th. Finally, BidaskClub downgraded Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Three equities 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 stock. Cogent Communications Holdings has a consensus rating of “Hold” and an average target price of $42.45.

In related news, VP Timothy G. Oneill sold 1,000 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $40.25, for a total value of $40,250.00. Following the completion of the sale, the vice president now directly owns 43,052 shares of the company’s stock, valued at approximately $1,732,843. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $40.20, for a total value of $120,600.00. Following the completion of the sale, the vice president now directly owns 53,240 shares of the company’s stock, valued at $2,140,248. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,433 shares of company stock valued at $1,147,646. Company insiders own 9.48% of the company’s stock.

Cogent Communications Holdings Company Profile

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.

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

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