Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer Sells 2,400 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $72.57, for a total value of $174,168.00. Following the completion of the transaction, the vice president now owns 41,000 shares in the company, valued at $2,975,370. The trade was a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cogent Communications Price Performance

Shares of CCOI stock opened at $69.63 on Tuesday. The company has a market capitalization of $3.43 billion, a P/E ratio of 89.27 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The stock has a 50 day moving average of $76.04 and a two-hundred day moving average of $76.99.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results 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 firm had revenue of $252.29 million during the quarter, compared to analysts’ expectations 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, equities analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $1.005 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 5.77%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is presently -93.49%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capstone Triton Financial Group LLC grew its stake in shares of Cogent Communications by 11.3% in the 4th quarter. Capstone Triton Financial Group LLC now owns 11,580 shares of the technology company’s stock valued at $892,000 after purchasing an additional 1,179 shares during the period. Ulysses Management LLC grew its position in Cogent Communications by 9.6% in the fourth quarter. Ulysses Management LLC now owns 372,166 shares of the technology company’s stock valued at $28,683,000 after acquiring an additional 32,596 shares during the period. Turtle Creek Asset Management Inc. acquired a new position in Cogent Communications during the fourth quarter worth $9,649,000. Tyro Capital Management LLC lifted its holdings in shares of Cogent Communications by 20.1% during the fourth quarter. Tyro Capital Management LLC now owns 420,825 shares of the technology company’s stock valued at $32,433,000 after acquiring an additional 70,521 shares during the period. Finally, Shellback Capital LP bought a new position in shares of Cogent Communications during the fourth quarter valued at $9,255,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CCOI shares. StockNews.com raised Cogent Communications to a “sell” rating in a report on Monday, March 3rd. UBS Group started coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.25.

Cogent Communications Company Profile

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.