Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells $174,168.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $72.57, for a total transaction of $174,168.00. Following the sale, the vice president now owns 41,000 shares in the company, valued at $2,975,370. This trade represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Cogent Communications Price Performance

NASDAQ CCOI opened at $69.94 on Thursday. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The business’s fifty day moving average is $75.75 and its two-hundred day moving average is $76.92. The stock has a market capitalization of $3.45 billion, a P/E ratio of 89.67 and a beta of 0.45. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. On average, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a yield of 5.75%. Cogent Communications’s dividend payout ratio is currently -93.49%.

Analyst Ratings Changes

A number of research firms recently commented on CCOI. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. UBS Group began coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cogent Communications presently has a consensus rating of “Hold” and a consensus target price of $80.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Cogent Communications in the 3rd quarter valued at approximately $30,000. Quest Partners LLC acquired a new stake in Cogent Communications during the 3rd quarter valued at $46,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Cogent Communications in the fourth quarter valued at $46,000. Blue Trust Inc. boosted its position in shares of Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after buying an additional 218 shares during the period. Finally, BankPlus Trust Department purchased a new position in shares of Cogent Communications during the fourth quarter valued at $63,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

About Cogent Communications

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.