Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Steven D. Brooks sold 10,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $43.25, for a total transaction of $432,500.00. Following the completion of the transaction, the director now directly owns 26,400 shares in the company, valued at $1,141,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Cogent Communications Holdings, Inc. (CCOI) remained flat at $43.20 on Tuesday. The company had a trading volume of 289,699 shares. The stock has a 50 day moving average price of $41.36 and a 200 day moving average price of $41.64. The firm has a market capitalization of $1.93 billion, a PE ratio of 127.06 and a beta of 0.74. Cogent Communications Holdings, Inc. has a one year low of $34.23 and a one year high of $45.25.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The business had revenue of $119.80 million for the quarter, compared to analysts’ expectations of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities research analysts predict that Cogent Communications Holdings, Inc. will post $0.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be 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 4.26%. The ex-dividend date of this dividend is Wednesday, August 16th. Cogent Communications Holdings’s dividend payout ratio is presently 488.89%.

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Several research analysts have weighed in on CCOI shares. BidaskClub cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Zacks Investment Research raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Cogent Communications Holdings in a report on Thursday, May 25th. Cowen and Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 price target on the stock. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Off Wall Street started coverage on shares of Cogent Communications Holdings in a report on Monday, July 31st. They issued a “sell” rating and a $29.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Cogent Communications Holdings presently has a consensus rating of “Hold” and an average target price of $42.67.

Hedge funds have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC boosted its stake in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares during the last quarter. Airain ltd purchased a new stake in Cogent Communications Holdings during the first quarter worth about $1,033,000. Teachers Advisors LLC boosted its stake in Cogent Communications Holdings by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 74,032 shares of the technology company’s stock worth $3,061,000 after buying an additional 3,444 shares during 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 worth $194,000 after buying an additional 80 shares during the last quarter. Finally, 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 worth $719,000 after buying an additional 200 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.

About Cogent Communications Holdings

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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