Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed Sells 4,900 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the sale, the chief financial officer now owns 103,000 shares of the company's stock, valued at $7,422,180. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cogent Communications Stock Performance

Shares of CCOI traded up $0.69 during mid-day trading on Friday, hitting $71.59. 395,612 shares of the company's stock were exchanged, compared to its average volume of 370,378. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 91.78 and a beta of 0.45. The stock's 50-day simple moving average is $76.24 and its 200-day simple moving average is $77.00. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data 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. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm had revenue of $252.29 million during the quarter, compared to analysts' expectations of $258.49 million. On average, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

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Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date is Thursday, March 13th. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio is -93.49%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Cogent Communications by 17.4% in the third quarter. Nisa Investment Advisors LLC now owns 14,180 shares of the technology company's stock valued at $1,077,000 after buying an additional 2,104 shares in the last quarter. US Bancorp DE grew its holdings in shares of Cogent Communications by 12.6% during the 3rd quarter. US Bancorp DE now owns 17,587 shares of the technology company's stock valued at $1,335,000 after purchasing an additional 1,970 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Cogent Communications by 70.8% during the third quarter. Harbor Capital Advisors Inc. now owns 17,119 shares of the technology company's stock worth $1,300,000 after buying an additional 7,099 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Cogent Communications by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,445 shares of the technology company's stock worth $860,000 after buying an additional 481 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of Cogent Communications in the 3rd quarter valued at $404,000. 92.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCOI shares. UBS Group initiated coverage on Cogent Communications in a research report on Thursday, November 14th. They issued a "buy" rating and a $102.00 price objective for the company. StockNews.com raised shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two 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 MarketBeat.com, the company 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.