Henry W. Kilmer Sells 4,800 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the transaction, the vice president now directly owns 33,800 shares in the company, valued at approximately $2,555,618. The trade was a 12.44 % 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 2.5 %

Shares of Cogent Communications stock opened at $77.29 on Monday. The company has a 50-day moving average of $81.01 and a two-hundred day moving average of $70.98. The stock has a market cap of $3.79 billion, a PE ratio of 99.09 and a beta of 0.39. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.01. The company had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Cogent Communications’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.13) earnings per share. On average, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.995 dividend. This represents a $3.98 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend was Friday, November 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio is 510.26%.

Analyst Upgrades and Downgrades

CCOI has been the topic of a number of analyst reports. UBS Group began coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. KeyCorp increased their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. The Goldman Sachs Group lifted their price objective on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cogent Communications has an average rating of “Hold” and a consensus price target of $80.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCOI. Tyro Capital Management LLC grew its holdings in Cogent Communications by 0.6% during the 3rd quarter. Tyro Capital Management LLC now owns 350,304 shares of the technology company’s stock valued at $26,595,000 after buying an additional 2,063 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cogent Communications by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company’s stock valued at $77,021,000 after acquiring an additional 3,093 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Cogent Communications by 0.3% during the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock valued at $117,107,000 after acquiring an additional 5,307 shares during the last quarter. State Street Corp increased its position in Cogent Communications by 1.3% during the 3rd quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock worth $132,921,000 after purchasing an additional 22,738 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. raised its stake in Cogent Communications by 48.0% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 11,795 shares of the technology company’s stock valued at $895,000 after purchasing an additional 3,825 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

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.