Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Tim Weingarten sold 2,383 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $40.15, for a total transaction of $95,677.45. Following the transaction, the director now owns 19,652 shares in the company, valued at $789,027.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Cogent Communications Holdings, Inc. (NASDAQ CCOI) traded down 1.11% during mid-day trading on Monday, hitting $40.25. 69,212 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $40.66 and a 200-day moving average price of $41.44. Cogent Communications Holdings, Inc. has a 1-year low of $34.23 and a 1-year high of $45.25. The stock has a market cap of $1.80 billion, a P/E ratio of 118.38 and a beta of 0.76.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $119.02 million. Cogent Communications Holdings had a net margin of 3.45% and a negative return on equity of 33.66%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post $0.52 EPS for the current fiscal year.

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

The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Thursday, May 18th were issued a dividend of $0.44 per share. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Tuesday, May 16th. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 502.87%.

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Several research analysts have weighed in on the stock. Cowen and Company lowered shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 target price on the stock. in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Citigroup Inc. upped their target price on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. FBR & Co restated an “underperform” rating and set a $24.00 target price (up from $21.00) on shares of Cogent Communications Holdings in a research report on Monday, February 27th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Cogent Communications Holdings in a research report on Thursday, March 2nd. They set a “neutral” rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.79.

Hedge funds have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC boosted its stake in Cogent Communications Holdings by 0.8% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 7,148 shares of the technology company’s stock valued at $308,000 after buying an additional 58 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Cogent Communications Holdings by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,520 shares of the technology company’s stock valued at $194,000 after buying an additional 80 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Cogent Communications Holdings by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the technology company’s stock valued at $719,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System boosted its stake in Cogent Communications Holdings by 0.9% in the first quarter. Arizona State Retirement System now owns 21,300 shares of the technology company’s stock valued at $917,000 after buying an additional 200 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Cogent Communications Holdings by 0.5% in the first quarter. Prudential Financial Inc. now owns 70,419 shares of the technology company’s stock valued at $3,032,000 after buying an additional 330 shares in the last quarter. Institutional investors and hedge funds own 94.79% 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.

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