Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 675 shares of Cogent Communications stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $58.28, for a total transaction of $39,339.00. Following the completion of the sale, the director now owns 4,430 shares of the company’s stock, valued at $258,180.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cogent Communications stock traded up $1.15 during trading hours on Wednesday, reaching $60.14. 1,981 shares of the company were exchanged, compared to its average volume of 188,148. Cogent Communications Holdings Inc has a 12 month low of $42.40 and a 12 month high of $64.24. The stock has a 50-day moving average of $60.16 and a 200 day moving average of $57.38. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 95.46, a PEG ratio of 9.56 and a beta of 0.58.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). Cogent Communications had a net margin of 5.97% and a negative return on equity of 20.58%. The firm had revenue of $134.79 million during the quarter, compared to the consensus estimate of $136.12 million. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Cogent Communications Holdings Inc will post 0.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 23rd were paid a $0.62 dividend. The ex-dividend date was Thursday, August 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.12%. Cogent Communications’s dividend payout ratio (DPR) is presently 393.65%.

Several research analysts have recently commented on the stock. ValuEngine lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Cogent Communications in a research note on Friday, August 9th. Credit Suisse Group began coverage on shares of Cogent Communications in a report on Friday, May 31st. They issued an “outperform” rating and a $68.00 price objective for the company. BidaskClub raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, Zacks Investment Research downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $58.17.

A number of large investors have recently bought and sold shares of CCOI. Point72 Asset Management L.P. acquired a new position in Cogent Communications during the 2nd quarter worth $30,000. Royce & Associates LP boosted its holdings in Cogent Communications by 29.2% during the first quarter. Royce & Associates LP now owns 810 shares of the technology company’s stock valued at $44,000 after acquiring an additional 183 shares during the period. Arbor Wealth Management LLC bought a new stake in Cogent Communications during the second quarter valued at about $59,000. Winslow Evans & Crocker Inc. grew its position in shares of Cogent Communications by 163.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,476 shares of the technology company’s stock valued at $88,000 after purchasing an additional 916 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Cogent Communications in the first quarter valued at about $91,000. Institutional investors and hedge funds own 87.80% of the company’s stock.

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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