Cogent Communications Holdings Inc (CCOI) CFO Sells $91,620.00 in Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $45.81, for a total value of $91,620.00. Following the completion of the sale, the chief financial officer now directly owns 67,650 shares in the company, valued at approximately $3,099,046.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cogent Communications Holdings Inc (NASDAQ CCOI) traded up $1.52 during midday trading on Thursday, hitting $45.67. The company had a trading volume of 615,191 shares, compared to its average volume of 333,462. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. Cogent Communications Holdings Inc has a 12 month low of $37.85 and a 12 month high of $54.85. The firm has a market cap of $2,090.00, a P/E ratio of 124.17, a price-to-earnings-growth ratio of 11.66 and a beta of 0.58.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.06). Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The firm had revenue of $123.00 million for the quarter, compared to analyst estimates of $123.60 million. During the same period last year, the business earned $0.08 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. equities research analysts anticipate that Cogent Communications Holdings Inc will post 0.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Friday, November 17th were issued a dividend of $0.48 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, November 16th. This represents a $1.92 annualized dividend and a dividend yield of 4.20%. Cogent Communications’s dividend payout ratio (DPR) is 548.57%.

A number of brokerages have weighed in on CCOI. BidaskClub downgraded Cogent Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Macquarie downgraded Cogent Communications from a “neutral” rating to an “underperform” rating in a report on Friday, November 3rd. Jefferies Group raised their target price on Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Raymond James Financial reaffirmed an “underperform” rating on shares of Cogent Communications in a report on Friday, November 3rd. Finally, SunTrust Banks downgraded Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Cogent Communications presently has a consensus rating of “Hold” and an average target price of $43.77.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in Cogent Communications by 1,378.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 6,048 shares of the technology company’s stock worth $296,000 after buying an additional 5,639 shares during the period. DF Dent & Co. Inc. lifted its holdings in Cogent Communications by 28.9% during the 3rd quarter. DF Dent & Co. Inc. now owns 35,481 shares of the technology company’s stock worth $1,735,000 after buying an additional 7,963 shares during the period. California Public Employees Retirement System lifted its holdings in Cogent Communications by 4.8% during the 3rd quarter. California Public Employees Retirement System now owns 83,762 shares of the technology company’s stock worth $4,096,000 after buying an additional 3,862 shares during the period. Vident Investment Advisory LLC acquired a new position in Cogent Communications during the 3rd quarter worth about $482,000. Finally, Asset Management One Co. Ltd. acquired a new position in Cogent Communications during the 3rd quarter worth about $1,418,000. 95.62% of the stock is currently owned by institutional investors.

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Cogent Communications Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Insider Buying and Selling by Quarter for Cogent Communications (NASDAQ:CCOI)

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