Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy Sells 1,640 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy sold 1,640 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $57.79, for a total value of $94,775.60. Following the completion of the transaction, the director now directly owns 10,091 shares of the company’s stock, valued at approximately $583,158.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cogent Communications Trading Up 0.3 %

CCOI traded up $0.16 during trading on Friday, hitting $58.65. The company’s stock had a trading volume of 18,562 shares, compared to its average volume of 419,892. The stock’s fifty day moving average price is $62.83 and its 200-day moving average price is $69.03. The firm has a market capitalization of $2.88 billion, a P/E ratio of 2.32 and a beta of 0.39. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80. Cogent Communications Holdings, Inc. has a twelve month low of $57.11 and a twelve month high of $86.00.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.79. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. The business had revenue of $272.10 million during the quarter, compared to analysts’ expectations of $275.82 million. Analysts anticipate that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.975 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.97. This represents a $3.90 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date is Wednesday, May 22nd. Cogent Communications’s dividend payout ratio is 15.45%.

Institutional Investors Weigh In On Cogent Communications

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Cogent Communications by 895.0% during the third quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company’s stock worth $25,000 after purchasing an additional 358 shares during the period. EntryPoint Capital LLC acquired a new position in Cogent Communications during the first quarter worth $26,000. SRS Capital Advisors Inc. lifted its stake in shares of Cogent Communications by 313.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock valued at $38,000 after buying an additional 383 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Cogent Communications by 109.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock valued at $48,000 after buying an additional 333 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Cogent Communications by 20.0% during the third quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

Analyst Upgrades and Downgrades

CCOI has been the subject of several recent research reports. TD Cowen decreased their price target on shares of Cogent Communications from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 10th. KeyCorp lowered their target price on Cogent Communications from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. TheStreet raised Cogent Communications from a “c+” rating to a “b” rating in a research note on Thursday, February 29th. Finally, StockNews.com downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.14.

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.