Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy Sells 1,350 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy sold 1,350 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.58, for a total transaction of $108,783.00. Following the completion of the transaction, the director now directly owns 10,318 shares in the company, valued at approximately $831,424.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Cogent Communications Price Performance

Shares of Cogent Communications stock opened at $79.04 on Wednesday. The company has a fifty day moving average of $77.79 and a 200-day moving average of $67.88. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.20 and a current ratio of 2.03. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 101.33 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $257.20 million for the quarter, compared to analyst estimates of $258.69 million. During the same period last year, the company earned ($1.13) EPS. Cogent Communications’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current year.

Cogent Communications Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCOI. The Goldman Sachs Group upped their target price on Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Bank of America cut shares of Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. TD Cowen lifted their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $77.14.

Institutional Investors Weigh In On Cogent Communications

Several institutional investors have recently added to or reduced their stakes in CCOI. EntryPoint Capital LLC bought a new position in shares of Cogent Communications during the first quarter valued at about $26,000. Blue Trust Inc. grew its stake in shares of Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after purchasing an additional 272 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Cogent Communications in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

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.