Sheryl Lynn Kennedy Sells 3,300 Shares of Cogent Communications (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy sold 3,300 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $22.99, for a total transaction of $75,867.00. Following the sale, the director owned 10,100 shares of the company’s stock, valued at $232,199. The trade was a 24.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cogent Communications Stock Up 1.3%

NASDAQ:CCOI opened at $23.07 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 49.06. Cogent Communications Holdings, Inc. has a 12-month low of $15.96 and a 12-month high of $72.68. The stock’s fifty day simple moving average is $23.06 and its 200-day simple moving average is $29.08. The firm has a market capitalization of $1.15 billion, a P/E ratio of -6.06 and a beta of 0.84.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Friday, February 20th. The technology company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.45. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 18.67%.The business had revenue of $240.52 million during the quarter, compared to the consensus estimate of $243.82 million. During the same quarter in the prior year, the company posted ($0.91) earnings per share. The firm’s revenue was down 4.7% on a year-over-year basis. Equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. Cogent Communications’s payout ratio is -2.10%.

Key Stories Impacting Cogent Communications

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Quarterly dividend announced — Cogent declared a $0.02 quarterly dividend (record March 6; payable March 20), signaling management willingness to return cash and providing a modest yield (~0.3%). That income signal likely supports buying interest from yield?sensitive investors. Dividend/Stock Report
• Positive Sentiment: Recent quarterly results beat EPS estimates — Cogent reported ($0.64) EPS vs. consensus ($1.09) loss estimate, a smaller-than-expected loss that can support short-term buying despite revenue decline year-over-year. Earnings Summary
• Neutral Sentiment: Investor / institutional position notes — Large institutions (Vanguard, ProShare Advisors, Geode, others) remain major holders and have added shares in past quarters, which provides structural support but is not new catalyst news. Institutional Holdings
• Neutral Sentiment: Conference presentation / analysis pieces — Cogent presented at the Morgan Stanley TMT conference (transcript available) and has recent valuation/analysis articles on Yahoo/Seeking Alpha examining the dividend and capital allocation; these provide context but no immediate new financials. Conference Transcript Yahoo Analysis
• Neutral Sentiment: Short-interest data appears anomalous — Recent reports show 0 shares short with a 0.0 days-to-cover figure; this looks like a reporting anomaly and should not be treated as a genuine change in bearish positioning.
• Negative Sentiment: Insider selling — CFO and directors sold shares — Multiple Form 4 filings show sales: CFO Thaddeus G. Weed sold 4,850 shares (~$22.63 avg) and directors Sheryl Kennedy (3,300 shares) and Lewis H. Ferguson (2,206 shares) also sold in early March. Clustered insider sales can pressure sentiment and be read as insiders reducing exposure. CFO Form 4 Director Kennedy Form 4 Director Ferguson Form 4
• Negative Sentiment: Analyst cuts / lower target — Wells Fargo trimmed its target to $23 and set an “equal weight” rating; other major firms have cut targets or trimmed upside over recent months. Lower targets and mixed analyst views can limit upside momentum. Analyst Note

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCOI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cogent Communications in a research report on Monday, December 22nd. Oppenheimer reduced their price target on shares of Cogent Communications from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 23rd. Zacks Research raised shares of Cogent Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. TD Cowen restated a “buy” rating on shares of Cogent Communications in a research note on Monday, February 23rd. Finally, KeyCorp decreased their target price on Cogent Communications from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.78.

Institutional Trading of Cogent Communications

A number of hedge funds have recently made changes to their positions in CCOI. Quarry LP acquired a new position in shares of Cogent Communications in the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Cogent Communications during the 4th quarter worth approximately $28,000. Hantz Financial Services Inc. increased its position in Cogent Communications by 313.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,127 shares during the period. Atlantic Union Bankshares Corp bought a new position in Cogent Communications during the 2nd quarter worth $40,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Cogent Communications in the fourth quarter valued at about $43,000. 92.45% of the stock is owned by institutional investors and hedge funds.

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.