California Public Employees Retirement System increased its position in shares of Cogent Communications Group Inc. (NASDAQ:CCOI) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 110,600 shares of the company’s stock after buying an additional 2,700 shares during the period. California Public Employees Retirement System’s holdings in Cogent Communications Group were worth $4,071,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. PineBridge Investments L.P. boosted its stake in shares of Cogent Communications Group by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,220 shares of the company’s stock worth $210,000 after buying an additional 194 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Cogent Communications Group by 5.0% in the second quarter. Capstone Asset Management Co. now owns 12,616 shares of the company’s stock worth $505,000 after buying an additional 600 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Cogent Communications Group by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock worth $142,000 after buying an additional 1,886 shares in the last quarter. Airain ltd bought a new stake in shares of Cogent Communications Group during the second quarter worth $702,000. Finally, SECOR Capital Advisors LP boosted its stake in shares of Cogent Communications Group by 175.1% in the second quarter. SECOR Capital Advisors LP now owns 72,877 shares of the company’s stock worth $2,920,000 after buying an additional 46,382 shares in the last quarter. Institutional investors and hedge funds own 97.09% of the company’s stock.

Institutional Ownership by Quarter for Cogent Communications Group (NASDAQ:CCOI)

Cogent Communications Group Inc. (NASDAQ:CCOI) traded down 1.54% during trading on Tuesday, reaching $38.25. The company’s stock had a trading volume of 375,896 shares. The firm has a market cap of $1.70 billion, a P/E ratio of 126.24 and a beta of 0.82. Cogent Communications Group Inc. has a 52 week low of $29.65 and a 52 week high of $43.61. The stock’s 50 day moving average is $37.35 and its 200-day moving average is $38.43.

Cogent Communications Group (NASDAQ:CCOI) last announced its earnings results on Thursday, November 3rd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by $0.02. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $113.25 million. Cogent Communications Group had a negative return on equity of 53.79% and a net margin of 3.10%. Cogent Communications Group’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS. On average, equities research analysts forecast that Cogent Communications Group Inc. will post $0.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 22nd will be issued a $0.40 dividend. This is a boost from Cogent Communications Group’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.60 annualized dividend and a yield of 4.18%. Cogent Communications Group’s dividend payout ratio (DPR) is currently 516.13%.

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Several brokerages have commented on CCOI. JPMorgan Chase & Co. began coverage on shares of Cogent Communications Group in a research report on Monday, September 26th. They issued a “neutral” rating on the stock. TheStreet cut shares of Cogent Communications Group from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Off Wall Street reiterated a “sell” rating on shares of Cogent Communications Group in a research report on Friday, November 4th. William Blair reiterated an “outperform” rating on shares of Cogent Communications Group in a research report on Friday, October 14th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $45.00 price target on shares of Cogent Communications Group in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.38.

In related news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $35.52, for a total value of $35,520.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO James Bubeck sold 800 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $39.76, for a total value of $31,808.00. The disclosure for this sale can be found here. 9.17% of the stock is owned by corporate insiders.

Cogent Communications Group Company Profile

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.

5 Day Chart for NASDAQ:CCOI

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