Cogent Communications Holdings Inc (CCOI) Director Sells $29,586.75 in Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 515 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $57.45, for a total transaction of $29,586.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of CCOI stock traded up $0.62 during trading on Friday, hitting $57.78. The company had a trading volume of 239,001 shares, compared to its average volume of 257,213. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 91.71, a price-to-earnings-growth ratio of 8.29 and a beta of 0.70. Cogent Communications Holdings Inc has a 52 week low of $42.40 and a 52 week high of $58.72.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $134.20 million for the quarter, compared to analysts’ expectations of $135.21 million. Cogent Communications had a net margin of 5.92% and a negative return on equity of 22.47%. Cogent Communications’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities analysts anticipate that Cogent Communications Holdings Inc will post 0.87 earnings per share for the current fiscal year.



The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, May 16th. Cogent Communications’s dividend payout ratio is 380.95%.

Several hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in Cogent Communications during the fourth quarter valued at approximately $21,046,000. WINTON GROUP Ltd grew its position in Cogent Communications by 1,855.1% during the fourth quarter. WINTON GROUP Ltd now owns 440,481 shares of the technology company’s stock valued at $19,914,000 after acquiring an additional 417,951 shares during the last quarter. FMR LLC grew its position in Cogent Communications by 33.2% during the first quarter. FMR LLC now owns 1,488,748 shares of the technology company’s stock valued at $80,764,000 after acquiring an additional 370,945 shares during the last quarter. BlackRock Inc. grew its position in Cogent Communications by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,865,395 shares of the technology company’s stock valued at $310,385,000 after acquiring an additional 210,635 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cogent Communications by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 702,367 shares of the technology company’s stock valued at $38,103,000 after acquiring an additional 189,118 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

A number of equities research analysts have recently issued reports on CCOI shares. Royal Bank of Canada increased their price target on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, February 25th. BidaskClub cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. ValuEngine cut shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Oppenheimer cut shares of Cogent Communications from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Cogent Communications presently has a consensus rating of “Hold” and an average price target of $50.14.

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Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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

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