Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang Sells 2,280 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang sold 2,280 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $80.41, for a total value of $183,334.80. Following the completion of the transaction, the vice president now owns 69,300 shares of the company’s stock, valued at $5,572,413. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cogent Communications Trading Down 1.8 %

Shares of CCOI opened at $79.04 on Wednesday. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The company’s fifty day simple moving average is $77.79 and its 200-day simple moving average is $67.88. The company has a market cap of $3.87 billion, a P/E ratio of 101.33 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.20 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, topping the consensus estimate of ($1.34) by $0.01. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. During the same period in the prior year, the business posted ($1.13) earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, analysts expect that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.995 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.98 dividend on an annualized basis and a yield of 5.04%. Cogent Communications’s dividend payout ratio (DPR) is presently 510.26%.

Institutional Trading of Cogent Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new position in Cogent Communications during the 1st quarter worth $26,000. Blue Trust Inc. grew its position in shares of Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after buying an additional 272 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after buying an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after acquiring an additional 441 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Cogent Communications in the third quarter worth about $46,000. Institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

CCOI has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Citigroup boosted their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Bank of America cut shares of Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. Finally, KeyCorp increased their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.14.

About Cogent Communications

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.