Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Raymond B. Kummer sold 4,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $46.62, for a total transaction of $186,480.00. Following the completion of the transaction, the vice president now directly owns 53,340 shares of the company’s stock, valued at approximately $2,486,710.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Cogent Communications Holdings, Inc. (CCOI) remained flat at $46.40 during midday trading on Thursday. The stock had a trading volume of 480,767 shares. Cogent Communications Holdings, Inc. has a one year low of $34.23 and a one year high of $47.70. The stock’s 50 day moving average price is $44.05 and its 200 day moving average price is $42.16. The stock has a market cap of $2.07 billion, a PE ratio of 132.57 and a beta of 0.71.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The company had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. During the same period last year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts anticipate that Cogent Communications Holdings, Inc. will post $0.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued 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 3.97%. The ex-dividend date of this dividend was Wednesday, August 16th. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 511.11%.

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A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Cowen and Company reaffirmed a “hold” rating and issued a $46.00 target price on shares of Cogent Communications Holdings in a research note on Friday, August 4th. BidaskClub lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Off Wall Street assumed coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $42.45.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new position in shares of Cogent Communications Holdings during the second quarter valued at about $355,000. DF Dent & Co. Inc. grew its holdings in shares of Cogent Communications Holdings by 76.4% during the second quarter. DF Dent & Co. Inc. now owns 27,518 shares of the technology company’s stock valued at $1,103,000 after buying an additional 11,920 shares during the last quarter. Osterweis Capital Management Inc. grew its holdings in shares of Cogent Communications Holdings by 121.1% during the second quarter. Osterweis Capital Management Inc. now owns 72,120 shares of the technology company’s stock valued at $2,892,000 after buying an additional 39,495 shares during the last quarter. MIG Capital LLC grew its holdings in shares of Cogent Communications Holdings by 7.3% during the second quarter. MIG Capital LLC now owns 1,425,000 shares of the technology company’s stock valued at $57,143,000 after buying an additional 97,160 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Cogent Communications Holdings by 5.2% during the second quarter. State Street Corp now owns 1,081,902 shares of the technology company’s stock valued at $43,377,000 after buying an additional 53,562 shares during the last quarter. Hedge funds and other institutional investors own 93.54% 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.

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

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