Trading Report: Today, RMB Capital Management LLC Buys Shares of 47,176 Cogent Communications Holdings Inc (CCOI)

Today, RMB Capital Management LLC Buys Shares of 47,176 Cogent Communications Holdings Inc (CCOI)

RMB Capital Management LLC acquired a new stake in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 47,176 shares of the company’s stock, valued at approximately $1,737,000. RMB Capital Management LLC owned 0.11% of Cogent Communications Holdings at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its position in shares of Cogent Communications Holdings by 39.7% in the third quarter. First Trust Advisors LP now owns 26,993 shares of the company’s stock valued at $994,000 after buying an additional 7,666 shares during the last quarter. Jennison Associates LLC raised its position in shares of Cogent Communications Holdings by 4.4% in the third quarter. Jennison Associates LLC now owns 1,890,026 shares of the company’s stock valued at $69,572,000 after buying an additional 79,368 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Cogent Communications Holdings by 99.9% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 7,090 shares of the company’s stock valued at $261,000 after buying an additional 3,544 shares during the last quarter. Stanley Laman Group Ltd. raised its position in shares of Cogent Communications Holdings by 3.7% in the third quarter. Stanley Laman Group Ltd. now owns 19,224 shares of the company’s stock valued at $708,000 after buying an additional 683 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of Cogent Communications Holdings by 2,790.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 18,270 shares of the company’s stock valued at $672,000 after buying an additional 17,638 shares during the last quarter. 99.32% of the stock is currently owned by institutional investors.

Cogent Communications Holdings Inc (NASDAQ:CCOI) traded up 1.82% during midday trading on Friday, hitting $39.10. 245,695 shares of the stock traded hands. Cogent Communications Holdings Inc has a one year low of $29.65 and a one year high of $43.61. The company has a 50-day moving average price of $37.10 and a 200 day moving average price of $38.44. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 129.04 and a beta of 0.82.

Cogent Communications Holdings (NASDAQ:CCOI) last released its earnings results on Thursday, November 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $113.25 million. Cogent Communications Holdings had a negative return on equity of 53.79% and a net margin of 3.10%. Cogent Communications Holdings’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Equities research analysts anticipate that Cogent Communications Holdings Inc will post $0.37 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 18th. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 4.09%. Cogent Communications Holdings’s dividend payout ratio is 516.13%.

Several brokerages recently issued reports on CCOI. Zacks Investment Research raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Off Wall Street reissued a “sell” rating on shares of Cogent Communications Holdings in a report on Friday, November 4th. William Blair reissued an “outperform” rating on shares of Cogent Communications Holdings in a report on Friday, October 14th. JPMorgan Chase & Co. began coverage on shares of Cogent Communications Holdings in a report on Monday, September 26th. They set a “neutral” rating on the stock. Finally, TheStreet lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.38.

In other Cogent Communications Holdings news, CRO James Bubeck sold 800 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $39.76, for a total value of $31,808.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Henry W. Kilmer sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. The disclosure for this sale can be found here. Company insiders own 9.17% of the company’s stock.

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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