Thrivent Financial for Lutherans Decreases Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Thrivent Financial for Lutherans lowered its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,038,980 shares of the technology company’s stock after selling 478 shares during the period. Thrivent Financial for Lutherans’ holdings in Cogent Communications were worth $80,074,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Cogent Communications during the 3rd quarter worth about $30,000. Quest Partners LLC purchased a new stake in shares of Cogent Communications during the 3rd quarter worth about $46,000. Blue Trust Inc. grew its holdings in shares of Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares during the period. BankPlus Trust Department purchased a new stake in shares of Cogent Communications during the 4th quarter worth about $63,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Cogent Communications by 132.1% during the 4th quarter. Jones Financial Companies Lllp now owns 875 shares of the technology company’s stock worth $67,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Down 0.8 %

NASDAQ CCOI opened at $70.35 on Wednesday. The stock has a market cap of $3.47 billion, a PE ratio of 90.19 and a beta of 0.45. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The business has a 50 day moving average price of $75.28 and a two-hundred day moving average price of $76.90. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. As a group, sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.71%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications’s dividend payout ratio is presently -93.49%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cogent Communications to a “sell” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.25.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, Director Lewis H. Ferguson sold 956 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the transaction, the director now directly owns 18,652 shares of the company’s stock, valued at $1,293,702.72. This represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,681 shares of company stock valued at $840,878 in the last three months. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications 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.