Cogent Communications (NASDAQ:CCOI) CFO Sells $45,444.50 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Weed sold 4,850 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $9.37, for a total value of $45,444.50. Following the transaction, the chief financial officer owned 193,050 shares of the company’s stock, valued at approximately $1,808,878.50. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Thaddeus Gerard Weed also recently made the following trade(s):

• On Tuesday, June 16th, Thaddeus Weed sold 4,850 shares of Cogent Communications stock. The shares were sold at an average price of $16.79, for a total value of $81,431.50.

Cogent Communications Price Performance

Shares of Cogent Communications stock opened at $10.05 on Friday. The business’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $16.54. The company has a market capitalization of $514.72 million, a P/E ratio of -10.47 and a beta of 0.77. Cogent Communications Holdings, Inc. has a 1-year low of $8.88 and a 1-year high of $45.69.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $2.38. The company had revenue of $235.56 million during the quarter, compared to analysts’ expectations of $239.55 million. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.21) earnings per share. On average, research analysts expect that Cogent Communications Holdings, Inc. will post -3.01 earnings per share for the current fiscal year.

Cogent Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 21st. Cogent Communications’s dividend payout ratio is currently -8.33%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CCOI. UBS Group set a $9.00 price target on shares of Cogent Communications in a research note on Wednesday, August 19th. Wells Fargo & Company lowered their price objective on shares of Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. KeyCorp cut their target price on Cogent Communications from $25.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Citigroup decreased their price target on Cogent Communications from $20.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Cogent Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.55.

Hedge Funds Weigh In On Cogent Communications

Several large investors have recently made changes to their positions in the business. Turtle Creek Asset Management Inc. raised its holdings in shares of Cogent Communications by 64.9% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 4,603,933 shares of the technology company’s stock worth $176,561,000 after purchasing an additional 1,811,222 shares in the last quarter. Park West Asset Management LLC bought a new stake in Cogent Communications during the fourth quarter worth approximately $30,380,000. Bank of America Corp DE boosted its holdings in Cogent Communications by 551.2% during the third quarter. Bank of America Corp DE now owns 1,146,417 shares of the technology company’s stock worth $43,965,000 after buying an additional 970,367 shares in the last quarter. California State Teachers Retirement System grew its position in Cogent Communications by 1,545.0% in the second quarter. California State Teachers Retirement System now owns 752,005 shares of the technology company’s stock worth $10,438,000 after buying an additional 706,291 shares during the last quarter. Finally, MIG Capital LLC bought a new position in shares of Cogent Communications in the fourth quarter valued at $12,272,000. Institutional investors own 92.45% of the company’s stock.

Key Cogent Communications News

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Potential investor recovery: Shareholders who purchased CCOI securities between February 29, 2024, and May 1, 2026, may seek appointment as lead plaintiff by September 21, 2026. Any financial recovery would depend on the outcome of the litigation. Robbins LLP CCOI class action notice
• Neutral Sentiment: September 21 deadline highlighted: Kaplan Fox, Hagens Berman, Faruqi & Faruqi and other firms reiterated the lead-plaintiff deadline. The announcements largely repeat the same lawsuit rather than represent new operating developments. Kaplan Fox CCOI deadline announcement
• Negative Sentiment: Securities-fraud allegations pressure sentiment: The complaint alleges Cogent and certain executives made misleading disclosures regarding optical-wavelength demand, backlog conversion, margin-loan risks, dividends and pledged-share foreclosures. Law firms also linked the allegations to an approximately 29% share-price decline. The claims remain unproven, but potential legal costs, reputational damage and uncertainty around prior disclosures are negative catalysts. Hagens Berman Cogent securities fraud notice
• Negative Sentiment: CFO insider sale: CFO Thaddeus Weed sold 4,850 shares for approximately $45,445, reducing his holdings by 2.45%. The transaction is relatively small compared with his remaining stake, but it may weigh on investor confidence amid the litigation headlines. Cogent CFO SEC Form 4 filing

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.