Thaddeus Gerard Weed Sells 4,900 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 4,900 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now owns 103,000 shares in the company, valued at approximately $7,422,180. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cogent Communications Trading Up 0.1 %

CCOI traded up $0.05 during mid-day trading on Tuesday, hitting $71.37. The stock had a trading volume of 144,607 shares, compared to its average volume of 353,369. The stock’s fifty day simple moving average is $76.56 and its 200-day simple moving average is $77.10. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 91.53 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last issued 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 business had revenue of $252.29 million for the quarter, compared to the consensus estimate of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. As a group, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.63%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s dividend payout ratio (DPR) is currently -93.49%.

Analyst Upgrades and Downgrades

CCOI has been the subject of a number of recent research reports. StockNews.com raised shares of Cogent Communications to a “sell” rating in a research note on Monday. UBS Group initiated coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.25.

Hedge Funds Weigh In On Cogent Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Cogent Communications by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock worth $394,182,000 after buying an additional 43,523 shares during the period. Brown Advisory Inc. increased its position in shares of Cogent Communications by 24.1% during the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock worth $146,209,000 after acquiring an additional 368,129 shares in the last quarter. State Street Corp raised its holdings in shares of Cogent Communications by 1.3% during the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock worth $132,921,000 after acquiring an additional 22,738 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Cogent Communications by 0.3% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock worth $117,107,000 after purchasing an additional 5,307 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in Cogent Communications by 21.8% during the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after purchasing an additional 257,383 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

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.