Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells 2,400 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) VP Henry W. Kilmer sold 2,400 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $72.57, for a total value of $174,168.00. Following the sale, the vice president now directly owns 41,000 shares of the company's stock, valued at $2,975,370. The trade was a 5.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cogent Communications Stock Performance

CCOI traded up $0.91 during trading on Friday, reaching $68.52. 310,283 shares of the company's stock were exchanged, compared to its average volume of 369,208. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. 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 business has a 50 day moving average price of $75.42 and a 200 day moving average price of $76.82. The company has a market capitalization of $3.38 billion, a P/E ratio of 87.85 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, topping analysts' consensus estimates of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. As a group, analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

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Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 5.87%. This is an increase from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's payout ratio is currently -93.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. UBS Group assumed coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a "buy" rating and a $102.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cogent Communications presently has an average rating of "Hold" and an average target price of $80.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in shares of Cogent Communications during the third quarter valued at $30,000. Hillsdale Investment Management Inc. bought a new position in shares of Cogent Communications during the fourth quarter valued at $46,000. Quest Partners LLC bought a new position in shares of Cogent Communications during the third quarter valued at $46,000. Blue Trust Inc. lifted its holdings in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after acquiring an additional 218 shares during the period. Finally, BankPlus Trust Department bought a new position in shares of Cogent Communications during the fourth quarter valued at $63,000. 92.45% of the stock is owned by institutional investors.

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.