Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed Sells 4,900 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 4,900 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the completion of the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at approximately $7,422,180. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cogent Communications Stock Down 0.1 %

Shares of NASDAQ CCOI opened at $71.26 on Wednesday. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market cap of $3.49 billion, a PE ratio of 91.36 and a beta of 0.40. The company has a 50 day simple moving average of $76.47 and a 200 day simple moving average of $77.09.

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

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is -93.49%.

Hedge Funds Weigh In On Cogent Communications

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Cogent Communications by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock valued at $394,182,000 after purchasing an additional 43,523 shares during the period. Brown Advisory Inc. increased its position in shares of Cogent Communications by 24.1% during the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock worth $146,209,000 after buying an additional 368,129 shares during the period. State Street Corp raised its stake in Cogent Communications by 1.3% during the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock worth $132,921,000 after buying an additional 22,738 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Cogent Communications by 0.3% during 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 acquiring an additional 5,307 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in Cogent Communications by 21.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock valued at $110,738,000 after acquiring an additional 257,383 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCOI has been the topic of a number of recent analyst reports. UBS Group assumed coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective on the stock. StockNews.com upgraded Cogent Communications to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.25.

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.