John B. Chang Sells 558 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang sold 558 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $70.00, for a total transaction of $39,060.00. Following the transaction, the vice president now owns 33,776 shares of the company’s stock, valued at approximately $2,364,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cogent Communications stock opened at $69.55 on Thursday. The stock has a market capitalization of $3.31 billion, a PE ratio of 161.74, a price-to-earnings-growth ratio of 7.46 and a beta of 0.10. Cogent Communications Holdings, Inc. has a twelve month low of $53.20 and a twelve month high of $92.96. The company has a 50 day moving average of $63.03 and a 200-day moving average of $60.36.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, February 25th. The technology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.32). The business had revenue of $143.90 million during the quarter, compared to the consensus estimate of $143.83 million. Cogent Communications had a negative return on equity of 17.36% and a net margin of 3.60%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS. On average, equities research analysts forecast that Cogent Communications Holdings, Inc. will post 0.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were given a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Thursday, March 11th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.73. Cogent Communications’s payout ratio is currently 397.37%.

Several hedge funds have recently made changes to their positions in CCOI. Brown Advisory Inc. lifted its position in shares of Cogent Communications by 95.8% in the fourth quarter. Brown Advisory Inc. now owns 1,290,511 shares of the technology company’s stock worth $77,262,000 after purchasing an additional 631,541 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Cogent Communications by 58.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,330,604 shares of the technology company’s stock worth $79,663,000 after purchasing an additional 490,054 shares in the last quarter. Norges Bank bought a new stake in shares of Cogent Communications in the fourth quarter worth $27,692,000. SG Capital Management LLC bought a new stake in shares of Cogent Communications in the fourth quarter worth $17,712,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Cogent Communications in the fourth quarter worth $13,118,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

CCOI has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Cogent Communications from a “hold” rating to a “strong sell” rating and set a $52.00 price objective for the company. in a report on Monday, March 1st. Moffett Nathanson upgraded shares of Cogent Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $69.00 in a report on Wednesday, February 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $76.25.

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, Asia, Australia, and Latin America. The company offers on-net Internet access and private network services to law firms, financial services firms, advertising and marketing firms, other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, content delivery network companies, and commercial content and application service providers.

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

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