Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Bought by Keybank National Association OH

Posted by Defense World Staff on Aug 24th, 2023

Keybank National Association OH raised its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Free Report) by 35.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,924 shares of the technology company’s stock after purchasing an additional 1,298 shares during the quarter. Keybank National Association OH’s holdings in Cogent Communications were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Spire Wealth Management boosted its holdings in shares of Cogent Communications by 155.8% in the first quarter. Spire Wealth Management now owns 399 shares of the technology company’s stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. Fortis Capital Advisors LLC bought a new position in shares of Cogent Communications in the fourth quarter valued at approximately $28,000. Quadrant Capital Group LLC boosted its holdings in shares of Cogent Communications by 123.3% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the technology company’s stock valued at $39,000 after acquiring an additional 381 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Cogent Communications in the fourth quarter valued at approximately $44,000. Finally, CWM LLC boosted its holdings in shares of Cogent Communications by 31.0% in the fourth quarter. CWM LLC now owns 807 shares of the technology company’s stock valued at $46,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CCOI shares. KeyCorp increased their price objective on shares of Cogent Communications from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 11th. TheStreet upgraded shares of Cogent Communications from a “c” rating to a “b-” rating in a report on Friday, August 11th. JPMorgan Chase & Co. cut shares of Cogent Communications from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $72.00 to $70.00 in a report on Monday, May 8th. TD Cowen upgraded shares of Cogent Communications from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Friday, August 11th. Finally, 888 restated a “reiterates” rating on shares of Cogent Communications in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.10.

Check Out Our Latest Research Report on Cogent Communications

Cogent Communications Trading Down 0.9 %

Cogent Communications stock opened at $68.17 on Thursday. The company has a 50 day moving average price of $64.69 and a 200 day moving average price of $64.63. Cogent Communications Holdings, Inc. has a 52 week low of $46.75 and a 52 week high of $75.00. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 2.88 and a beta of 0.45.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 24th will be paid a $0.945 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $3.78 dividend on an annualized basis and a yield of 5.54%. Cogent Communications’s dividend payout ratio (DPR) is currently 15.83%.

Insiders Place Their Bets

In other Cogent Communications news, VP David Allen Kapp sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.32, for a total value of $326,600.00. Following the completion of the sale, the vice president now owns 10,600 shares in the company, valued at approximately $692,392. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cogent Communications news, VP David Allen Kapp sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.32, for a total value of $326,600.00. Following the completion of the sale, the vice president now owns 10,600 shares in the company, valued at approximately $692,392. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven D. Brooks sold 4,202 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $65.00, for a total transaction of $273,130.00. Following the transaction, the director now owns 33,277 shares in the company, valued at approximately $2,163,005. The disclosure for this sale can be found here. Insiders sold a total of 26,533 shares of company stock worth $1,678,737 in the last quarter. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Company Profile

(Free Report)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, 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.