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 the company’s stock in a transaction that occurred 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 owns 41,000 shares in the company, valued at approximately $2,975,370. This represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cogent Communications Trading Up 0.0 %

Cogent Communications stock opened at $69.94 on Thursday. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company’s fifty day moving average price is $75.75 and its two-hundred day moving average price is $76.92. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 89.67 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The business had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. On average, analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share 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. Investors of record on Thursday, March 13th will be paid a $1.005 dividend. The ex-dividend date is Thursday, March 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a yield of 5.75%. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Cogent Communications in the third quarter valued at about $30,000. Quest Partners LLC bought a new stake in Cogent Communications during the 3rd quarter valued at approximately $46,000. Hillsdale Investment Management Inc. acquired a new stake in Cogent Communications in the 4th quarter valued at approximately $46,000. Blue Trust Inc. grew its holdings in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock valued at $47,000 after buying an additional 218 shares during the last quarter. Finally, BankPlus Trust Department bought a new position in Cogent Communications in the 4th quarter worth approximately $63,000. Institutional investors own 92.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cogent Communications Company Profile

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.