Lewis H. Ferguson Sells 846 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 846 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.76, for a total transaction of $69,168.96. Following the completion of the transaction, the director now owns 18,354 shares in the company, valued at $1,500,623.04. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cogent Communications Trading Up 1.8 %

Shares of CCOI stock opened at $81.40 on Thursday. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The business’s 50 day moving average is $78.77 and its two-hundred day moving average is $68.49. The company has a market cap of $3.99 billion, a PE ratio of 104.36 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. During the same quarter last year, the company posted ($1.13) earnings per share. Cogent Communications’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts predict that Cogent Communications Holdings, Inc. will post -4.54 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.89%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 22nd. Cogent Communications’s payout ratio is currently 510.26%.

Institutional Trading of Cogent Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCOI. Geode Capital Management LLC lifted its stake in Cogent Communications by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company’s stock valued at $77,021,000 after acquiring an additional 3,093 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in Cogent Communications by 0.3% in the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock valued at $117,107,000 after buying an additional 5,307 shares in the last quarter. State Street Corp raised its position in Cogent Communications by 1.3% in the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock valued at $132,921,000 after purchasing an additional 22,738 shares during the last quarter. Parallax Volatility Advisers L.P. raised its position in shares of Cogent Communications by 48.0% during the third quarter. Parallax Volatility Advisers L.P. now owns 11,795 shares of the technology company’s stock worth $895,000 after acquiring an additional 3,825 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Cogent Communications during the third quarter worth approximately $30,000. 92.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCOI. TD Cowen increased their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup raised their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, August 19th. UBS Group started coverage on shares of Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target for the company. Bank of America cut shares of Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. 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’s stock. Based on data from MarketBeat, Cogent Communications currently has an average rating of “Hold” and an average target price 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.