Russell Investments Group Ltd. Purchases 64,167 Shares of Cogent Communications Holdings Inc (CCOI)

Russell Investments Group Ltd. increased its position in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 57.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 176,265 shares of the technology company’s stock after acquiring an additional 64,167 shares during the quarter. Russell Investments Group Ltd. owned about 0.38% of Cogent Communications worth $8,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Kiwi Wealth Investments Limited Partnership boosted its stake in Cogent Communications by 21.6% in the 3rd quarter. Kiwi Wealth Investments Limited Partnership now owns 36,645 shares of the technology company’s stock worth $1,792,000 after purchasing an additional 6,501 shares during the period. Rhumbline Advisers boosted its stake in Cogent Communications by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 94,880 shares of the technology company’s stock worth $4,640,000 after purchasing an additional 1,486 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Cogent Communications by 60.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,560 shares of the technology company’s stock worth $761,000 after purchasing an additional 5,890 shares during the period. New York State Common Retirement Fund boosted its stake in Cogent Communications by 9.8% in the 3rd quarter. New York State Common Retirement Fund now owns 48,846 shares of the technology company’s stock worth $2,389,000 after purchasing an additional 4,346 shares during the period. Finally, Sei Investments Co. boosted its stake in Cogent Communications by 42.4% in the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after purchasing an additional 1,240 shares during the period. 95.62% of the stock is owned by institutional investors.

CCOI has been the subject of several analyst reports. Macquarie downgraded Cogent Communications from a “neutral” rating to an “underperform” rating in a research note on Friday, November 3rd. Deutsche Bank raised their target price on Cogent Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research downgraded Cogent Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Jefferies Group raised their target price on Cogent Communications from $39.00 to $43.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Finally, SunTrust Banks downgraded Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $43.77.

In related news, VP Henry W. Kilmer sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $44.54, for a total value of $133,620.00. Following the completion of the sale, the vice president now owns 33,600 shares in the company, valued at approximately $1,496,544. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Raymond B. Kummer sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $46.62, for a total value of $186,480.00. Following the completion of the sale, the vice president now owns 53,340 shares of the company’s stock, valued at approximately $2,486,710.80. The disclosure for this sale can be found here. Insiders sold a total of 13,866 shares of company stock valued at $643,083 in the last 90 days. 9.48% of the stock is currently owned by corporate insiders.

Shares of Cogent Communications Holdings Inc (CCOI) opened at $44.15 on Thursday. The stock has a market capitalization of $2,086.36, a PE ratio of 126.11, a PEG ratio of 11.84 and a beta of 0.58. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of -8.84. Cogent Communications Holdings Inc has a 12-month low of $37.40 and a 12-month high of $54.85.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The business had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. sell-side analysts forecast that Cogent Communications Holdings Inc will post 0.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Friday, November 17th were given a $0.48 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a yield of 4.35%. Cogent Communications’s payout ratio is presently 533.33%.

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Cogent Communications 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.

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

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