Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sells $66,308.16 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 956 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $69.36, for a total transaction of $66,308.16. Following the transaction, the director now owns 18,652 shares of the company’s stock, valued at approximately $1,293,702.72. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cogent Communications Stock Performance

Shares of CCOI stock opened at $68.52 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 87.85 and a beta of 0.45. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a 50 day moving average of $75.42 and a 200-day moving average of $76.85.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.31. The company had revenue of $252.29 million during the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. On average, equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $1.005 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.02 annualized dividend and a yield of 5.87%. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and a consensus price target of $80.25.

Institutional Trading of Cogent Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of Cogent Communications by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company’s stock valued at $4,055,000 after buying an additional 156 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its position in shares of Cogent Communications by 0.5% during the third quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock worth $3,119,000 after acquiring an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Cogent Communications by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock worth $400,000 after acquiring an additional 212 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after acquiring an additional 218 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Cogent Communications by 0.6% during the fourth quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock worth $2,611,000 after acquiring an additional 218 shares in the last quarter. Institutional investors own 92.45% of the company’s stock.

About Cogent Communications

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.