Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sells 1,425 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) Director Sheryl Lynn Kennedy sold 1,425 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $72.96, for a total value of $103,968.00. Following the sale, the director now owns 10,147 shares of the company's stock, valued at $740,325.12. This trade represents a 12.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cogent Communications Price Performance

Shares of CCOI stock traded up $0.71 during midday trading on Thursday, reaching $70.90. 442,070 shares of the company traded hands, compared to its average volume of 369,792. The firm's 50 day simple moving average is $76.35 and its two-hundred day simple moving average is $77.04. 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 firm has a market cap of $3.48 billion, a PE ratio of 90.90 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.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating analysts' consensus estimates of ($1.22) by $0.31. The firm had revenue of $252.29 million for the quarter, compared to analysts' expectations of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. On average, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

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Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.67%. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications's dividend payout ratio (DPR) is -93.49%.

Institutional Investors Weigh In On Cogent Communications

A number of institutional investors and hedge funds have recently bought and sold shares of CCOI. Itau Unibanco Holding S.A. acquired a new position in shares of Cogent Communications in the third quarter worth $30,000. Blue Trust Inc. increased its position in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock worth $31,000 after purchasing an additional 272 shares in the last quarter. Quest Partners LLC acquired a new position in Cogent Communications in the 3rd quarter valued at about $46,000. Hillsdale Investment Management Inc. acquired a new position in Cogent Communications in the 4th quarter valued at about $46,000. Finally, BankPlus Trust Department purchased a new position in Cogent Communications in the 4th quarter valued at about $63,000. Hedge funds and other institutional investors own 92.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCOI. UBS Group assumed coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They set a "buy" rating and a $102.00 price target on the stock. StockNews.com upgraded Cogent Communications to a "sell" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.