Lewis H. Ferguson Sells 515 Shares of Cogent Communications Holdings Inc (CCOI) Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 515 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $57.45, for a total value of $29,586.75. Following the completion of the sale, the director now directly owns 3,355 shares in the company, valued at approximately $192,744.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ:CCOI opened at $57.78 on Monday. Cogent Communications Holdings Inc has a 52-week low of $42.40 and a 52-week high of $58.72. The firm has a market capitalization of $2.68 billion, a PE ratio of 91.71, a P/E/G ratio of 8.27 and a beta of 0.70.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Cogent Communications had a negative return on equity of 22.47% and a net margin of 5.92%. The business had revenue of $134.20 million for the quarter, compared to the consensus estimate of $135.21 million. During the same period in the prior year, the business earned $0.15 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cogent Communications Holdings Inc will post 0.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.60 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Thursday, May 16th. Cogent Communications’s dividend payout ratio is currently 380.95%.

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in Cogent Communications by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,865,395 shares of the technology company’s stock worth $310,385,000 after buying an additional 210,635 shares during the period. First Trust Advisors LP lifted its position in Cogent Communications by 3.4% during the first quarter. First Trust Advisors LP now owns 1,785,559 shares of the technology company’s stock worth $96,867,000 after buying an additional 59,007 shares during the period. FMR LLC lifted its position in Cogent Communications by 33.2% during the first quarter. FMR LLC now owns 1,488,748 shares of the technology company’s stock worth $80,764,000 after buying an additional 370,945 shares during the period. Dimensional Fund Advisors LP lifted its position in Cogent Communications by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,385,819 shares of the technology company’s stock worth $62,654,000 after buying an additional 22,196 shares during the period. Finally, MIG Capital LLC lifted its position in Cogent Communications by 13.0% during the first quarter. MIG Capital LLC now owns 989,801 shares of the technology company’s stock worth $53,697,000 after buying an additional 113,801 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

CCOI has been the topic of several research reports. Oppenheimer lowered Cogent Communications from an “outperform” rating to a “market perform” rating in a report on Friday, May 10th. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Royal Bank of Canada upped their price objective on Cogent Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, February 25th. ValuEngine downgraded Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research upgraded Cogent Communications from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $50.14.

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Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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