Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells $362,928.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) VP Henry W. Kilmer sold 4,800 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the transaction, the vice president now directly owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cogent Communications Stock Up 2.5 %

Shares of Cogent Communications stock traded up $1.86 during trading on Friday, hitting $77.29. 241,823 shares of the stock traded hands, compared to its average volume of 437,544. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock's fifty day simple moving average is $81.01 and its 200 day simple moving average is $70.82. The firm has a market cap of $3.79 billion, a P/E ratio of 99.09 and a beta of 0.39.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. The firm had revenue of $257.20 million during the quarter, compared to analysts' expectations of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company's revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.13) EPS. On average, equities analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.995 dividend. The ex-dividend date was Friday, November 22nd. This is an increase from Cogent Communications's previous quarterly dividend of $0.99. This represents a $3.98 dividend on an annualized basis and a dividend yield of 5.15%. Cogent Communications's dividend payout ratio (DPR) is currently 510.26%.

Institutional Investors Weigh In On Cogent Communications

A number of hedge funds have recently made changes to their positions in CCOI. Itau Unibanco Holding S.A. bought a new position in Cogent Communications in the third quarter worth about $30,000. Blue Trust Inc. raised its stake in shares of 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 acquiring an additional 272 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Cogent Communications by 72.9% in the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock valued at $41,000 after acquiring an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock worth $44,000 after purchasing an additional 441 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Cogent Communications during the third quarter worth $46,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CCOI. UBS Group initiated 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 for the company. KeyCorp upped their target price on Cogent Communications from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, August 27th. Royal Bank of Canada reissued an "outperform" rating and set a $74.00 price target on shares of Cogent Communications in a research note on Tuesday, September 3rd. Bank of America downgraded Cogent Communications from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. Finally, Citigroup boosted their target price on shares of Cogent Communications from $70.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Two 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's stock. Based on data from MarketBeat, Cogent Communications currently has an average rating of "Hold" and an average target price 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.