Cogent Communications Holdings Inc (NASDAQ:CCOI) CEO Mike Slessor sold 14,835 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $18.03, for a total transaction of $267,475.05.

Shares of NASDAQ CCOI traded up $1.15 during midday trading on Wednesday, hitting $60.14. 1,981 shares of the stock traded hands, compared to its average volume of 188,148. Cogent Communications Holdings Inc has a one year low of $42.40 and a one year high of $64.24. The business has a 50 day moving average price of $60.16 and a two-hundred day moving average price of $57.38. The company has a market cap of $2.75 billion, a PE ratio of 94.25, a P/E/G ratio of 9.56 and a beta of 0.58.

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

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

CCOI has been the topic of several research analyst reports. Credit Suisse Group started coverage on shares of Cogent Communications in a research note on Friday, May 31st. They set an “outperform” rating and a $68.00 target price on the stock. ValuEngine downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Co reiterated a “hold” rating on shares of Cogent Communications in a report on Friday, August 9th. BidaskClub raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, TheStreet cut shares of Cogent Communications from a “b” rating to a “c+” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Cogent Communications presently has an average rating of “Hold” and a consensus price target of $58.17.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Cogent Communications by 1.6% during the second quarter. BlackRock Inc. now owns 6,826,740 shares of the technology company’s stock valued at $405,235,000 after buying an additional 105,911 shares during the last quarter. Vanguard Group Inc. lifted its position in Cogent Communications by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,710,776 shares of the technology company’s stock valued at $279,631,000 after acquiring an additional 86,496 shares in the last quarter. Renaissance Technologies LLC lifted its position in Cogent Communications by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,423,700 shares of the technology company’s stock valued at $203,231,000 after acquiring an additional 47,300 shares in the last quarter. First Trust Advisors LP lifted its position in Cogent Communications by 3.4% in the 1st quarter. First Trust Advisors LP now owns 1,785,559 shares of the technology company’s stock valued at $96,867,000 after acquiring an additional 59,007 shares in the last quarter. Finally, FMR LLC boosted its stake in Cogent Communications by 33.2% during the 1st quarter. FMR LLC now owns 1,488,748 shares of the technology company’s stock valued at $80,764,000 after purchasing an additional 370,945 shares during the last quarter. Hedge funds and other institutional investors 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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