Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells $174,168.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction on Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the transaction, the vice president now directly owns 41,000 shares in the company, valued at $2,975,370. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cogent Communications Price Performance

CCOI stock traded down $2.03 on Monday, reaching $69.56. 195,324 shares of the company’s stock were exchanged, compared to its average volume of 366,173. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a fifty day moving average of $76.16 and a 200-day moving average of $77.01. The firm has a market cap of $3.43 billion, a PE ratio of 88.99 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. As a group, equities analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a yield of 5.78%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications’s payout ratio is presently -93.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCOI. DigitalBridge Group Inc. lifted its holdings in shares of Cogent Communications by 246.0% in the fourth quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company’s stock valued at $69,973,000 after purchasing an additional 645,521 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Cogent Communications during the 4th quarter valued at $39,845,000. Brown Advisory Inc. raised its holdings in shares of Cogent Communications by 24.1% in the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock worth $146,209,000 after acquiring an additional 368,129 shares during the last quarter. Hood River Capital Management LLC increased its position in Cogent Communications by 21.8% during the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after purchasing an additional 257,383 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Cogent Communications by 45.7% in the 4th quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company’s stock valued at $57,961,000 after purchasing an additional 235,842 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CCOI shares. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. UBS Group started coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $80.25.

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.