Emerald Mutual Fund Advisers Trust Has $11.13 Million Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Emerald Mutual Fund Advisers Trust decreased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 19.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,344 shares of the technology company’s stock after selling 34,594 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.29% of Cogent Communications worth $11,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Cogent Communications in the fourth quarter valued at approximately $39,845,000. Hood River Capital Management LLC lifted its stake in shares of Cogent Communications by 21.8% during the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after buying an additional 257,383 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of Cogent Communications by 8,542.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 237,678 shares of the technology company’s stock valued at $18,318,000 after acquiring an additional 234,928 shares during the period. Reaves W H & Co. Inc. increased its position in shares of Cogent Communications by 17.1% in the fourth quarter. Reaves W H & Co. Inc. now owns 698,518 shares of the technology company’s stock worth $53,835,000 after purchasing an additional 101,956 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in Cogent Communications during the fourth quarter worth about $7,084,000. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lewis H. Ferguson sold 956 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. This represents a 4.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,681 shares of company stock worth $840,878 in the last three months. 11.40% of the stock is owned by company insiders.

Cogent Communications Stock Performance

Shares of CCOI stock opened at $53.62 on Tuesday. Cogent Communications Holdings, Inc. has a 12 month low of $47.54 and a 12 month high of $86.76. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The company’s fifty day moving average price is $63.20 and its 200-day moving average price is $73.26. The stock has a market cap of $2.65 billion, a PE ratio of 68.74 and a beta of 0.69.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $252.29 million for the quarter, compared to analysts’ expectations of $258.49 million. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were issued a dividend of $1.005 per share. The ex-dividend date was Thursday, March 13th. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a yield of 7.50%. Cogent Communications’s dividend payout ratio (DPR) is currently -93.49%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cogent Communications presently has an average rating of “Hold” and a consensus price target of $80.25.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.