Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson Sells 846 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 846 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.76, for a total transaction of $69,168.96. Following the transaction, the director now owns 18,354 shares in the company, valued at approximately $1,500,623.04. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cogent Communications Stock Performance

Shares of CCOI stock traded up $0.52 on Tuesday, hitting $80.60. The company’s stock had a trading volume of 75,057 shares, compared to its average volume of 438,151. The stock’s 50 day moving average is $78.38 and its 200-day moving average is $68.28. The company has a market capitalization of $3.95 billion, a PE ratio of 103.64 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, beating 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 company had revenue of $257.20 million during the quarter, compared to the consensus estimate of $258.69 million. During the same quarter in the prior year, the firm posted ($1.13) earnings per share. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.54 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, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.995 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, November 22nd. Cogent Communications’s dividend payout ratio (DPR) is currently 505.13%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Cogent Communications in the first quarter valued at $26,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Cogent Communications in the third quarter worth $30,000. Blue Trust Inc. lifted its position in shares of Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after acquiring an additional 272 shares in the last quarter. Hexagon Capital Partners LLC grew 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 buying an additional 226 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCOI. JPMorgan Chase & Co. boosted their target price on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. TD Cowen lifted their price target on Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 price objective on shares of Cogent Communications in a research note on Tuesday, September 3rd. UBS Group started coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Finally, Bank of America downgraded shares of Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $75.00 to $65.00 in a report on Wednesday, August 21st. Two 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 currently has an average rating of “Hold” and an average price target of $80.25.

Cogent Communications Company 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.