Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Sells 2,250 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 2,250 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $43.51, for a total value of $97,897.50. Following the completion of the transaction, the chief financial officer now directly owns 72,650 shares of the company’s stock, valued at approximately $3,161,001.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Thaddeus Gerard Weed also recently made the following trade(s):

  • On Thursday, June 15th, Thaddeus Gerard Weed sold 2,250 shares of Cogent Communications Holdings stock. The shares were sold at an average price of $40.76, for a total value of $91,710.00.
  • On Friday, June 2nd, Thaddeus Gerard Weed sold 2,250 shares of Cogent Communications Holdings stock. The shares were sold at an average price of $41.20, for a total value of $92,700.00.

Cogent Communications Holdings, Inc. (CCOI) traded down 1.97% during trading on Friday, hitting $42.25. The company’s stock had a trading volume of 320,366 shares. Cogent Communications Holdings, Inc. has a 12 month low of $34.23 and a 12 month high of $45.25. The firm has a market cap of $1.89 billion, a P/E ratio of 120.71 and a beta of 0.74. The firm has a 50 day moving average of $42.46 and a 200 day moving average of $41.76.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business had revenue of $119.80 million for the quarter, compared to analysts’ expectations of $120.23 million. During the same period last year, the firm posted $0.09 earnings per share. Cogent Communications Holdings’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 4.36%. Cogent Communications Holdings’s payout ratio is 511.11%.

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Institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can raised its stake in Cogent Communications Holdings by 0.7% in the first quarter. Great West Life Assurance Co. Can now owns 517,181 shares of the technology company’s stock valued at $22,267,000 after buying an additional 3,731 shares in the last quarter. Wells Fargo & Company MN raised its stake in Cogent Communications Holdings by 4.1% in the first quarter. Wells Fargo & Company MN now owns 77,208 shares of the technology company’s stock valued at $3,323,000 after buying an additional 3,006 shares in the last quarter. Capital Insight Partners LLC raised its stake in Cogent Communications Holdings by 1.7% in the first quarter. Capital Insight Partners LLC now owns 26,210 shares of the technology company’s stock valued at $1,128,000 after buying an additional 436 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Cogent Communications Holdings by 54.7% in the first quarter. Russell Investments Group Ltd. now owns 82,198 shares of the technology company’s stock valued at $3,538,000 after buying an additional 29,059 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock valued at $122,000 after buying an additional 756 shares in the last quarter. 94.29% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently commented on CCOI. Cowen and Company cut Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and set a $46.00 target price on the stock. in a report on Tuesday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research cut Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Off Wall Street began coverage on Cogent Communications Holdings in a report on Monday, July 31st. They issued a “sell” rating and a $29.00 target price on the stock. Citigroup Inc. upped their target price on Cogent Communications Holdings from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Finally, BidaskClub cut Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.45.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Insider Buying and Selling by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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