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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 846 shares of Cogent Communications stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.76, for a total value of $69,168.96. Following the sale, the director now directly owns 18,354 shares of the company’s stock, valued at approximately $1,500,623.04. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cogent Communications Price Performance

NASDAQ CCOI opened at $79.96 on Wednesday. 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 stock’s 50-day moving average is $78.54 and its two-hundred day moving average is $68.40. The firm has a market cap of $3.92 billion, a P/E ratio of 102.51 and a beta of 0.40. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.995 dividend. 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. This represents a $3.98 annualized dividend and a yield of 4.98%. Cogent Communications’s dividend payout ratio is 505.13%.

Analyst Ratings Changes

A number of analysts recently issued reports on CCOI shares. Citigroup lifted their price objective on Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Bank of America cut Cogent Communications from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 price objective on shares of Cogent Communications in a research report on Tuesday, September 3rd. The Goldman Sachs Group lifted their price objective on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, TD Cowen lifted their price objective on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cogent Communications has an average rating of “Hold” and a consensus target price of $80.25.

Hedge Funds Weigh In On Cogent Communications

Several large investors have recently added to or reduced their stakes in CCOI. Ipswich Investment Management Co. Inc. grew its stake in shares of Cogent Communications by 0.5% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock valued at $3,119,000 after purchasing an additional 185 shares during the period. Taylor Frigon Capital Management LLC boosted its position in Cogent Communications by 1.1% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock valued at $1,095,000 after buying an additional 202 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cogent Communications by 5.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock valued at $378,000 after purchasing an additional 262 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of 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. 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.