Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy Sells 1,350 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Sheryl Lynn Kennedy sold 1,350 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.58, for a total transaction of $108,783.00. Following the transaction, the director now directly owns 10,318 shares in the company, valued at approximately $831,424.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Cogent Communications Trading Down 0.1 %

Cogent Communications stock traded down $0.06 during mid-day trading on Tuesday, hitting $80.39. 20,089 shares of the stock were exchanged, compared to its average volume of 439,603. The firm’s fifty day simple moving average is $77.59 and its two-hundred day simple moving average is $67.79. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 103.14 and a beta of 0.40. The company has a quick ratio of 2.20, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.34) by $0.01. The company had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Cogent Communications’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.13) EPS. Analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 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 given a $0.995 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.98 annualized dividend and a yield of 4.95%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio (DPR) is presently 510.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCOI. JPMorgan Chase & Co. increased their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. KeyCorp raised their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 price objective on shares of Cogent Communications in a report on Tuesday, September 3rd. TD Cowen raised their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $75.00 to $65.00 in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Cogent Communications currently has a consensus rating of “Hold” and an average price target of $77.14.

Institutional Trading of Cogent Communications

Several hedge funds have recently bought and sold shares of CCOI. EntryPoint Capital LLC acquired a new stake in Cogent Communications in the 1st quarter valued at $26,000. Blue Trust Inc. grew its position in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after acquiring an additional 226 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Cogent Communications by 127.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock worth $44,000 after acquiring an additional 441 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Cogent Communications during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

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.