Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Marc Montagner sold 5,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $1,880,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of Cogent Communications Holdings Inc (CCOI) traded down $0.10 during midday trading on Friday, hitting $46.85. 426,000 shares of the company’s stock were exchanged, compared to its average volume of 334,568. Cogent Communications Holdings Inc has a fifty-two week low of $37.85 and a fifty-two week high of $54.85. The company has a market capitalization of $2,157.59, a P/E ratio of 130.42, a price-to-earnings-growth ratio of 12.25 and a beta of 0.58. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). Cogent Communications had a net margin of 3.37% and a negative return on equity of 23.86%. The business had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. During the same period in the prior year, the business posted $0.08 EPS. Cogent Communications’s revenue for the quarter was up 8.8% on a year-over-year basis. research analysts forecast that Cogent Communications Holdings Inc will post 0.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Friday, November 17th were paid a dividend of $0.48 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, November 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.10%. Cogent Communications’s dividend payout ratio (DPR) is currently 533.33%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flinton Capital Management LLC increased its stake in shares of Cogent Communications by 63.4% during the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock valued at $106,000 after purchasing an additional 1,024 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Cogent Communications by 29.7% during the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after buying an additional 670 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Cogent Communications during the second quarter valued at approximately $140,000. PNC Financial Services Group Inc. grew its holdings in shares of Cogent Communications by 1,919.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock valued at $151,000 after buying an additional 3,589 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of Cogent Communications by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock valued at $167,000 after buying an additional 1,663 shares during the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

CCOI has been the subject of a number of research reports. Royal Bank of Canada reissued a “buy” rating and issued a $48.00 price target on shares of Cogent Communications in a research note on Monday, September 18th. Wells Fargo & Company downgraded shares of Cogent Communications from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $46.00 to $48.00 in a research note on Monday, October 9th. Zacks Investment Research raised shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Monday, October 9th. Deutsche Bank increased their price target on shares of Cogent Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, KeyCorp reissued a “hold” rating on shares of Cogent Communications in a research note on Wednesday, October 11th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.77.

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Cogent Communications 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 (NASDAQ:CCOI)

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