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

Thrivent Financial for Lutherans trimmed its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,038,980 shares of the technology company’s stock after selling 478 shares during the period. Thrivent Financial for Lutherans owned approximately 2.12% of Cogent Communications worth $80,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its position in shares of Cogent Communications by 28.7% during the 3rd quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after purchasing an additional 326 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of Cogent Communications during the 3rd quarter worth $2,556,000. Quest Partners LLC purchased a new stake in shares of Cogent Communications during the 3rd quarter worth $46,000. Advisors Asset Management Inc. boosted its position in shares of Cogent Communications by 1.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 191,331 shares of the technology company’s stock worth $14,526,000 after purchasing an additional 3,215 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its position in shares of Cogent Communications by 2.2% during the 3rd quarter. Moran Wealth Management LLC now owns 42,354 shares of the technology company’s stock worth $3,216,000 after purchasing an additional 903 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cogent Communications

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

Cogent Communications Trading Down 0.8 %

NASDAQ:CCOI opened at $70.35 on Wednesday. The company has a market capitalization of $3.47 billion, a PE ratio of 90.19 and a beta of 0.45. 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 Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a fifty day simple moving average of $75.28 and a 200-day simple moving average of $76.90.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $258.49 million. On average, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

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

Analyst Ratings Changes

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

About Cogent Communications

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.