Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Henry W. Kilmer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $46.68, for a total transaction of $140,040.00. Following the completion of the sale, the vice president now directly owns 31,200 shares of the company’s stock, valued at approximately $1,456,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
CCOI traded down $1.23 during trading on Friday, reaching $47.59. 227,804 shares of the company’s stock were exchanged, compared to its average volume of 262,962. Cogent Communications Holdings Inc has a fifty-two week low of $35.75 and a fifty-two week high of $57.65. The firm has a market capitalization of $2.27 billion, a PE ratio of 125.24, a P/E/G ratio of 9.25 and a beta of 0.55.
Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 1st. The technology company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Cogent Communications had a net margin of 2.99% and a negative return on equity of 24.22%. The firm had revenue of $130.00 million during the quarter, compared to analyst estimates of $132.09 million. During the same quarter in the previous year, the business earned $0.08 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Cogent Communications Holdings Inc will post 0.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Thursday, November 15th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.54. Cogent Communications’s payout ratio is currently 589.47%.
CCOI has been the subject of a number of research reports. BidaskClub raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Royal Bank of Canada set a $48.00 target price on shares of Cogent Communications and gave the stock a “hold” rating in a report on Tuesday, November 13th. Zacks Investment Research raised shares of Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 target price for the company in a report on Monday, October 8th. Wells Fargo & Co lifted their target price on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, November 2nd. Finally, BTIG Research lowered shares of Cogent Communications from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.71.
Several hedge funds and other institutional investors have recently made changes to their positions in CCOI. Pacer Advisors Inc. bought a new position in shares of Cogent Communications during the third quarter worth $218,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Cogent Communications during the third quarter worth $232,000. Neuberger Berman Group LLC bought a new position in shares of Cogent Communications during the third quarter worth $241,000. Virtu Financial LLC bought a new position in shares of Cogent Communications during the third quarter worth $264,000. Finally, Captrust Financial Advisors bought a new position in shares of Cogent Communications during the second quarter worth $266,000. 91.60% of the stock is currently owned by institutional investors.
About Cogent Communications
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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