Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sells $69,168.96 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 846 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.76, for a total value of $69,168.96. Following the transaction, the director now owns 18,354 shares of the company’s stock, valued at approximately $1,500,623.04. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cogent Communications Price Performance

Shares of CCOI opened at $81.40 on Thursday. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market cap of $3.99 billion, a PE ratio of 104.36 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The firm has a fifty day moving average price of $78.77 and a 200 day moving average price of $68.49.

Cogent Communications (NASDAQ:CCOI) last announced 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. The business had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.13) earnings per share. As a group, sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 4.89%. The ex-dividend date is Friday, November 22nd. Cogent Communications’s dividend payout ratio (DPR) is presently 510.26%.

Hedge Funds Weigh In On Cogent Communications

Large investors have recently bought and sold shares of the stock. Sei Investments Co. increased its position in shares of Cogent Communications by 1.3% in the first quarter. Sei Investments Co. now owns 92,427 shares of the technology company’s stock worth $6,038,000 after acquiring an additional 1,200 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Cogent Communications by 55.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,015 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 8,223 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Cogent Communications during the 1st quarter valued at $494,000. Covestor Ltd raised its stake in shares of Cogent Communications by 17.2% in the 1st quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock valued at $123,000 after buying an additional 276 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Cogent Communications during the 1st quarter worth about $1,397,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Analysts Set New Price Targets

CCOI has been the subject of a number of recent analyst reports. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a research note on Tuesday, September 3rd. TD Cowen boosted their price objective on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. KeyCorp lifted their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, UBS Group initiated coverage on Cogent Communications in a research note on Thursday, November 14th. They set a “buy” rating and a $102.00 target price on the stock. Two equities research 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. According to data from MarketBeat.com, Cogent Communications currently has a consensus rating of “Hold” and a consensus price target of $80.25.

About Cogent Communications

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.