Thaddeus Gerard Weed Sells 1,400 Shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) Stock

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Cogent Communications Holdings Inc (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $60.84, for a total value of $85,176.00. Following the completion of the transaction, the chief financial officer now directly owns 72,550 shares in the company, valued at approximately $4,413,942. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Thaddeus Gerard Weed also recently made the following trade(s):

  • On Wednesday, June 5th, Thaddeus Gerard Weed sold 5,000 shares of Cogent Communications stock. The stock was sold at an average price of $58.50, for a total value of $292,500.00.
  • On Monday, May 6th, Thaddeus Gerard Weed sold 1,500 shares of Cogent Communications stock. The stock was sold at an average price of $57.11, for a total value of $85,665.00.

Shares of Cogent Communications stock traded down $0.46 during trading on Friday, reaching $59.50. The company’s stock had a trading volume of 18,580 shares, compared to its average volume of 232,184. The firm has a market capitalization of $2.81 billion, a PE ratio of 94.43, a PEG ratio of 8.49 and a beta of 0.57. Cogent Communications Holdings Inc has a one year low of $42.40 and a one year high of $61.43.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $134.20 million for the quarter, compared to analyst estimates of $135.21 million. Cogent Communications had a negative return on equity of 22.47% and a net margin of 5.92%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. On average, analysts predict that Cogent Communications Holdings Inc will post 0.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.60 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, May 16th. Cogent Communications’s payout ratio is presently 380.95%.

A number of large investors have recently bought and sold shares of CCOI. JPMorgan Chase & Co. raised its position in shares of Cogent Communications by 24.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,143 shares of the technology company’s stock valued at $5,533,000 after acquiring an additional 19,538 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cogent Communications by 16.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock valued at $131,000 after acquiring an additional 408 shares during the last quarter. Rhumbline Advisers increased its position in shares of Cogent Communications by 19.3% in the 4th quarter. Rhumbline Advisers now owns 131,389 shares of the technology company’s stock valued at $5,940,000 after buying an additional 21,235 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of Cogent Communications by 1,855.1% in the 4th quarter. WINTON GROUP Ltd now owns 440,481 shares of the technology company’s stock valued at $19,914,000 after buying an additional 417,951 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of Cogent Communications by 2.8% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 20,784 shares of the technology company’s stock valued at $939,000 after buying an additional 562 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on CCOI. Oppenheimer downgraded Cogent Communications from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. BidaskClub upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Royal Bank of Canada upped their price target on Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Monday, February 25th. ValuEngine upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Credit Suisse Group assumed coverage on Cogent Communications in a report on Friday, May 31st. They issued an “outperform” rating and a $68.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $51.71.

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About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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