Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sells 956 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) Director Lewis H. Ferguson sold 956 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now owns 18,652 shares in the company, valued at $1,293,702.72. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Cogent Communications Trading Up 3.5 %

NASDAQ CCOI traded up $2.39 on Monday, reaching $70.91. The company had a trading volume of 393,776 shares, compared to its average volume of 424,080. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The stock's 50 day moving average is $75.42 and its 200-day moving average is $76.89. 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 stock has a market cap of $3.50 billion, a price-to-earnings ratio of 90.91 and a beta of 0.45.

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

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Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $1.005 dividend. The ex-dividend date of this dividend is Thursday, March 13th. 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. Cogent Communications's dividend payout ratio is currently -93.49%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Separately, StockNews.com raised Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. Two research 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 stock. According to MarketBeat, Cogent Communications currently has a consensus rating of "Hold" and a consensus price target 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.