Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang Sells 2,280 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang sold 2,280 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $80.41, for a total value of $183,334.80. Following the sale, the vice president now directly owns 69,300 shares in the company, valued at $5,572,413. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cogent Communications Stock Down 1.8 %

Shares of CCOI opened at $79.04 on Wednesday. The stock’s 50-day moving average price is $77.79 and its 200-day moving average price is $67.88. The company has a quick ratio of 2.20, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 101.33 and a beta of 0.40. 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 issued its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The business had revenue of $257.20 million for the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.13) EPS. On average, sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.995 dividend. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 5.04%. Cogent Communications’s payout ratio is presently 510.26%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CCOI shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their target price on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. The Goldman Sachs Group upped their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. TD Cowen lifted their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, KeyCorp increased their price objective on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.14.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CCOI. EdgePoint Investment Group Inc. raised its holdings in Cogent Communications by 46.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,537,196 shares of the technology company’s stock worth $86,759,000 after purchasing an additional 485,628 shares during the period. Harspring Capital Management LLC raised its stake in shares of Cogent Communications by 6.0% during the 2nd quarter. Harspring Capital Management LLC now owns 1,176,500 shares of the technology company’s stock worth $66,402,000 after buying an additional 66,500 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Cogent Communications by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,039,458 shares of the technology company’s stock valued at $78,916,000 after buying an additional 4,197 shares in the last quarter. Capital World Investors grew its stake in Cogent Communications by 327.7% in the 1st quarter. Capital World Investors now owns 981,623 shares of the technology company’s stock valued at $64,129,000 after acquiring an additional 752,133 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in Cogent Communications by 18.9% in the 2nd quarter. Hood River Capital Management LLC now owns 874,174 shares of the technology company’s stock worth $49,338,000 after acquiring an additional 138,680 shares in the last quarter. Institutional investors and hedge funds 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.