Cogent Communications Holdings, Inc. (CCOI) CFO Sells $141,090.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 3,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $47.03, for a total value of $141,090.00. Following the transaction, the chief financial officer now directly owns 69,650 shares of the company’s stock, valued at approximately $3,275,639.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Monday, August 7th, Thaddeus Gerard Weed sold 2,250 shares of Cogent Communications Holdings stock. The shares were sold at an average price of $43.51, for a total value of $97,897.50.
  • On Thursday, June 15th, Thaddeus Gerard Weed sold 2,250 shares of Cogent Communications Holdings stock. The shares were sold at an average price of $40.76, for a total value of $91,710.00.

Cogent Communications Holdings, Inc. (NASDAQ CCOI) opened at 44.30 on Friday. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $47.12. The stock has a 50 day moving average price of $43.83 and a 200 day moving average price of $42.06. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 126.57 and a beta of 0.71.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $119.80 million for the quarter, compared to analysts’ expectations of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Analysts expect that Cogent Communications Holdings, Inc. will post $0.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.46 per share. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 16th. Cogent Communications Holdings’s dividend payout ratio is 511.11%.

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Several brokerages have commented on CCOI. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 price objective on shares of Cogent Communications Holdings in a research report on Thursday, May 25th. Off Wall Street began coverage on Cogent Communications Holdings in a research report on Monday, July 31st. They set a “sell” rating and a $29.00 price objective for the company. Cowen and Company reissued a “hold” rating and set a $46.00 price objective on shares of Cogent Communications Holdings in a research report on Friday, August 4th. BidaskClub lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $48.00 price objective (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.45.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Cogent Communications Holdings by 3.5% during the 2nd quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock worth $205,670,000 after purchasing an additional 172,987 shares during the last quarter. FMR LLC lifted its stake in shares of Cogent Communications Holdings by 5.9% during the 1st quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock worth $134,256,000 after purchasing an additional 173,379 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Cogent Communications Holdings by 13.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,058,600 shares of the technology company’s stock worth $82,550,000 after purchasing an additional 245,100 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Cogent Communications Holdings by 13.1% during the 2nd quarter. Jennison Associates LLC now owns 1,867,749 shares of the technology company’s stock worth $74,897,000 after purchasing an additional 215,940 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cogent Communications Holdings by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,484,133 shares of the technology company’s stock worth $59,513,000 after purchasing an additional 150,328 shares during the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Insider Buying and Selling by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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