Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson Sells 2,000 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 2,000 shares of Cogent Communications stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $58.90, for a total transaction of $117,800.00. Following the completion of the transaction, the director now directly owns 17,623 shares of the company’s stock, valued at approximately $1,037,994.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Cogent Communications Price Performance

CCOI stock opened at $58.85 on Thursday. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 2.33 and a beta of 0.39. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80. Cogent Communications Holdings, Inc. has a 52-week low of $57.11 and a 52-week high of $86.00. The business has a fifty day moving average of $62.95 and a two-hundred day moving average of $69.10.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.95) by $0.79. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. The company had revenue of $272.10 million during the quarter, compared to analyst estimates of $275.82 million. As a group, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Thursday, May 23rd will be paid a $0.975 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a boost from Cogent Communications’s previous quarterly dividend of $0.97. This represents a $3.90 dividend on an annualized basis and a dividend yield of 6.63%. Cogent Communications’s payout ratio is presently 15.29%.

Hedge Funds Weigh In On Cogent Communications

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Cogent Communications by 895.0% during the third quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock worth $25,000 after purchasing an additional 358 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Cogent Communications in the first quarter worth $26,000. SRS Capital Advisors Inc. increased its position in shares of Cogent Communications by 313.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock worth $38,000 after acquiring an additional 383 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Cogent Communications by 109.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock valued at $48,000 after acquiring an additional 333 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Cogent Communications by 20.0% in the third quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock valued at $111,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CCOI shares. TD Cowen cut their price target on Cogent Communications from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, May 10th. TheStreet upgraded Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. decreased their target price on Cogent Communications from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. StockNews.com cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, Bank of America lowered shares of Cogent Communications from a “buy” rating to a “neutral” rating and decreased their price target for the company from $85.00 to $75.00 in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cogent Communications presently has an average rating of “Hold” and a consensus price target of $75.14.

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.