Cogent Communications Holdings, Inc. (CCOI) Shares Bought by Kiwi Wealth Investments Limited Partnership

Kiwi Wealth Investments Limited Partnership increased its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 21.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 36,645 shares of the technology company’s stock after acquiring an additional 6,501 shares during the period. Kiwi Wealth Investments Limited Partnership owned about 0.08% of Cogent Communications Holdings worth $1,792,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Rhumbline Advisers lifted its stake in shares of Cogent Communications Holdings by 1.6% during the 3rd quarter. Rhumbline Advisers now owns 94,880 shares of the technology company’s stock worth $4,640,000 after acquiring an additional 1,486 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Cogent Communications Holdings by 60.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,560 shares of the technology company’s stock worth $761,000 after acquiring an additional 5,890 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Cogent Communications Holdings by 9.8% during 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 acquiring an additional 4,346 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Cogent Communications Holdings by 42.4% during the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after acquiring an additional 1,240 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Cogent Communications Holdings by 58.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,898 shares of the technology company’s stock worth $1,071,000 after acquiring an additional 8,044 shares during the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on CCOI. Citigroup Inc. lowered Cogent Communications Holdings from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $43.00 to $39.00 in a research note on Thursday, November 2nd. Wells Fargo & Company downgraded Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $46.00 to $48.00 in a report on Monday, October 9th. Zacks Investment Research downgraded Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. KeyCorp restated a “hold” rating on shares of Cogent Communications Holdings in a report on Wednesday, October 11th. Finally, Deutsche Bank AG raised their price objective on Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.77.

Shares of Cogent Communications Holdings, Inc. (NASDAQ CCOI) remained flat at $$45.85 during trading hours on Thursday. 283,600 shares of the company’s stock traded hands, compared to its average volume of 333,653. Cogent Communications Holdings, Inc. has a 52 week low of $35.75 and a 52 week high of $54.85. The firm has a market capitalization of $2,107.04, a PE ratio of 127.36, a P/E/G ratio of 11.96 and a beta of 0.65. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22.

Cogent Communications Holdings (NASDAQ:CCOI) last announced 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). Cogent Communications Holdings had a net margin of 3.37% and a negative return on equity of 23.86%. The company had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. research analysts expect that Cogent Communications Holdings, Inc. will post 0.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Friday, November 17th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.19%. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 511.11%.

In related news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $46.60, for a total transaction of $46,600.00. Following the transaction, the vice president now directly owns 41,052 shares in the company, valued at approximately $1,913,023.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Raymond B. Kummer sold 2,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $45.78, for a total value of $91,560.00. Following the transaction, the vice president now owns 59,140 shares in the company, valued at $2,707,429.20. The disclosure for this sale can be found here. Insiders sold a total of 17,716 shares of company stock worth $828,227 over the last quarter. Company insiders own 9.48% of the company’s stock.

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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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