Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells $66,191.04 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Raymond B. Kummer sold 846 shares of the firm’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $78.24, for a total value of $66,191.04. Following the completion of the transaction, the vice president now directly owns 47,154 shares in the company, valued at $3,689,328.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of NASDAQ:CCOI opened at $76.12 on Thursday. Cogent Communications Holdings, Inc. has a 1-year low of $53.20 and a 1-year high of $90.96. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 76.40 and a beta of 0.14. The stock’s 50 day moving average price is $76.42.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Wednesday, April 28th. The technology company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.23. Cogent Communications had a negative return on equity of 17.03% and a net margin of 2.76%. The company had revenue of $146.78 million for the quarter, compared to analyst estimates of $144.17 million. During the same quarter last year, the firm earned $0.20 EPS. Cogent Communications’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post 1.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, May 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.76. Cogent Communications’s dividend payout ratio (DPR) is presently 410.53%.

Several research analysts have commented on the company. Moffett Nathanson lifted their price target on Cogent Communications from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, June 7th. They noted that the move was a valuation call. Royal Bank of Canada raised Cogent Communications from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $84.00 in a research report on Sunday, May 9th. TheStreet raised Cogent Communications from a “c+” rating to a “b-” rating in a research report on Monday, June 7th. Credit Suisse Group raised Cogent Communications from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $93.00 in a research report on Tuesday, May 4th. Finally, Zacks Investment Research raised Cogent Communications from a “strong sell” rating to a “hold” rating and set a $75.00 price target on the stock in a research report on Wednesday, April 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $84.29.

Large investors have recently made changes to their positions in the company. Martingale Asset Management L P boosted its stake in Cogent Communications by 1.7% in the 1st quarter. Martingale Asset Management L P now owns 12,216 shares of the technology company’s stock valued at $841,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can boosted its stake in Cogent Communications by 1.4% in the 1st quarter. Bank of Montreal Can now owns 15,173 shares of the technology company’s stock valued at $1,056,000 after buying an additional 211 shares in the last quarter. Profund Advisors LLC boosted its stake in Cogent Communications by 4.8% in the 1st quarter. Profund Advisors LLC now owns 4,849 shares of the technology company’s stock valued at $333,000 after buying an additional 223 shares in the last quarter. Access Financial Services Inc. boosted its stake in Cogent Communications by 0.8% in the 1st quarter. Access Financial Services Inc. now owns 29,222 shares of the technology company’s stock valued at $2,009,000 after buying an additional 234 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Cogent Communications by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 17,175 shares of the technology company’s stock valued at $1,181,000 after buying an additional 300 shares in the last quarter. 85.14% of the stock is currently owned by institutional investors.

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, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, 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.

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

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