Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed Sells 4,900 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total value of $353,094.00. Following the completion of the sale, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. This represents a 4.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cogent Communications Stock Down 1.5 %

CCOI opened at $70.19 on Thursday. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 89.99 and a beta of 0.40. The business’s fifty day moving average is $76.47 and its two-hundred day moving average is $77.09. 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 (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping 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 business had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.73%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is -93.49%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. UBS Group initiated coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cogent Communications has a consensus rating of “Hold” and a consensus price target of $80.25.

Institutional Investors Weigh In On Cogent Communications

A number of institutional investors and hedge funds have recently bought and sold shares of CCOI. Nisa Investment Advisors LLC raised its holdings in shares of Cogent Communications by 17.4% in the third quarter. Nisa Investment Advisors LLC now owns 14,180 shares of the technology company’s stock worth $1,077,000 after acquiring an additional 2,104 shares during the last quarter. US Bancorp DE increased its position in Cogent Communications by 12.6% during the 3rd quarter. US Bancorp DE now owns 17,587 shares of the technology company’s stock worth $1,335,000 after purchasing an additional 1,970 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Cogent Communications by 70.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,119 shares of the technology company’s stock valued at $1,300,000 after purchasing an additional 7,099 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Cogent Communications by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,445 shares of the technology company’s stock valued at $860,000 after purchasing an additional 481 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Cogent Communications during the 3rd quarter worth about $404,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

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.