Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells $174,168.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the sale, the vice president now owns 41,000 shares of the company’s stock, valued at approximately $2,975,370. The trade was a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cogent Communications Stock Down 2.8 %

Shares of Cogent Communications stock traded down $2.03 on Monday, hitting $69.56. 195,324 shares of the company’s stock traded hands, compared to its average volume of 366,173. The stock has a market cap of $3.43 billion, a P/E ratio of 88.99 and a beta of 0.45. The firm’s 50-day moving average is $76.16 and its 200 day moving average is $77.01. 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.

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. The firm had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Equities analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $1.005 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date is Thursday, March 13th. Cogent Communications’s dividend payout ratio is currently -93.49%.

Institutional Investors Weigh In On Cogent Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCOI. DigitalBridge Group Inc. increased its position in shares of Cogent Communications by 246.0% during the 4th quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company’s stock valued at $69,973,000 after purchasing an additional 645,521 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Cogent Communications during the fourth quarter worth $39,845,000. Brown Advisory Inc. lifted its holdings in shares of Cogent Communications by 24.1% during the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock valued at $146,209,000 after purchasing an additional 368,129 shares during the last quarter. Hood River Capital Management LLC boosted its position in shares of Cogent Communications by 21.8% in the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock valued at $110,738,000 after purchasing an additional 257,383 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Cogent Communications by 45.7% during the 4th quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company’s stock worth $57,961,000 after buying an additional 235,842 shares during the period. Institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CCOI shares. StockNews.com upgraded Cogent Communications to a “sell” rating in a report on Monday, March 3rd. UBS Group began coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cogent Communications 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.