Tyro Capital Management LLC Has $26.60 Million Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Tyro Capital Management LLC boosted its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 350,304 shares of the technology company’s stock after buying an additional 2,063 shares during the period. Cogent Communications makes up approximately 8.4% of Tyro Capital Management LLC’s holdings, making the stock its 3rd largest holding. Tyro Capital Management LLC owned approximately 0.71% of Cogent Communications worth $26,595,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCOI. Itau Unibanco Holding S.A. bought a new stake in shares of Cogent Communications in the 3rd quarter worth about $30,000. Blue Trust Inc. lifted its stake in shares of Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after acquiring an additional 272 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after acquiring an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after acquiring an additional 441 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Cogent Communications in the third quarter worth $46,000. 92.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 4,800 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $81.58, for a total value of $391,584.00. Following the completion of the sale, the chief financial officer now directly owns 88,500 shares of the company’s stock, valued at $7,219,830. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John B. Chang sold 2,280 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $80.41, for a total transaction of $183,334.80. Following the transaction, the vice president now directly owns 69,300 shares in the company, valued at approximately $5,572,413. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,336 shares of company stock worth $1,576,821. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications Stock Performance

Shares of CCOI stock opened at $74.72 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a market cap of $3.66 billion, a PE ratio of 96.71 and a beta of 0.39. The business has a 50-day simple moving average of $80.98 and a 200-day simple moving average of $70.69. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $257.20 million during the quarter, compared to the consensus estimate of $258.69 million. During the same period in the prior year, the company posted ($1.13) EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.995 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a yield of 5.33%. The ex-dividend date was Friday, November 22nd. Cogent Communications’s dividend payout ratio is currently 510.26%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CCOI. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a research note on Tuesday, September 3rd. UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Citigroup lifted their target price on Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and cut their price target for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group increased their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $80.25.

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.