Cogent Communications Group Inc. (NASDAQ:CCOI) Director Tim Weingarten sold 2,822 shares of Cogent Communications Group stock in a transaction on Friday, September 16th. The stock was sold at an average price of $35.57, for a total value of $100,378.54. Following the sale, the director now directly owns 21,479 shares of the company’s stock, valued at $764,008.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Cogent Communications Group Inc. (NASDAQ:CCOI) opened at 35.92 on Wednesday. The company’s 50-day moving average price is $36.74 and its 200 day moving average price is $38.85. Cogent Communications Group Inc. has a 12-month low of $25.84 and a 12-month high of $43.61. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 121.35 and a beta of 0.97.

Cogent Communications Group (NASDAQ:CCOI) last announced its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The business earned $110 million during the quarter, compared to analyst estimates of $110.88 million. Cogent Communications Group had a negative return on equity of 89.73% and a net margin of 3.10%. Cogent Communications Group’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. Equities analysts predict that Cogent Communications Group Inc. will post $0.40 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 19th were given a dividend of $0.38 per share. This is a positive change from Cogent Communications Group’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 4.23%. The ex-dividend date was Wednesday, August 17th. Cogent Communications Group’s dividend payout ratio (DPR) is currently 506.67%.

A number of brokerages recently commented on CCOI. Jefferies Group reaffirmed a “hold” rating on shares of Cogent Communications Group in a research note on Saturday, August 6th. Drexel Hamilton set a $44.00 price objective on Cogent Communications Group and gave the stock a “buy” rating in a research note on Friday, August 5th. TheStreet raised Cogent Communications Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Citigroup Inc. lifted their price objective on Cogent Communications Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $43.00 price objective on shares of Cogent Communications Group in a research note on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Cogent Communications Group has an average rating of “Hold” and a consensus price target of $42.64.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Cogent Communications Group by 115.5% in the first quarter. BlackRock Inc. now owns 3,205 shares of the company’s stock valued at $126,000 after buying an additional 1,718 shares in the last quarter. US Bancorp DE raised its position in shares of Cogent Communications Group by 2.8% in the second quarter. US Bancorp DE now owns 3,427 shares of the company’s stock valued at $137,000 after buying an additional 93 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Cogent Communications Group by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock valued at $142,000 after buying an additional 1,886 shares in the last quarter. Riverhead Capital Management LLC bought a new position in shares of Cogent Communications Group during the first quarter valued at about $165,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Cogent Communications Group by 306.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,025 shares of the company’s stock valued at $201,000 after buying an additional 3,790 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.

About Cogent Communications Group

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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