Cogent Communications (NASDAQ:CCOI) Shares Down 4.6% - Time to Sell?

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report)'s share price fell 4.6% during trading on Tuesday . The company traded as low as $65.53 and last traded at $65.05. 111,269 shares were traded during trading, a decline of 74% from the average session volume of 420,704 shares. The stock had previously closed at $68.15.

Analyst Ratings Changes

Separately, StockNews.com raised Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $80.25.

Cogent Communications Trading Up 0.1 %

The company's 50 day simple moving average is $74.21 and its two-hundred day simple moving average is $76.53. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 78.94 and a beta of 0.45. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

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, 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 business had revenue of $252.29 million for the quarter, compared to analysts' expectations of $258.49 million. As a group, research analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a $1.005 dividend. The ex-dividend date was Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 6.53%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio is currently -93.49%.

Insider Transactions at Cogent Communications

In related news, CFO Thaddeus Gerard Weed sold 4,900 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lewis H. Ferguson sold 956 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total value of $66,308.16. Following the transaction, the director now directly owns 18,652 shares of the company's stock, valued at approximately $1,293,702.72. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,681 shares of company stock worth $840,878. 11.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Cogent Communications during the 3rd quarter worth about $30,000. Quest Partners LLC purchased a new position in Cogent Communications in the third quarter valued at about $46,000. Hillsdale Investment Management Inc. acquired a new stake in Cogent Communications during the 4th quarter valued at approximately $46,000. Blue Trust Inc. increased its holdings in Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after purchasing an additional 218 shares during the last quarter. Finally, BankPlus Trust Department acquired a new position in shares of Cogent Communications in the 4th quarter valued at approximately $63,000. Institutional investors and hedge funds own 92.45% of the company's stock.

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.