Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Sells 558 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP John B. Chang sold 558 shares of Cogent Communications stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $75.00, for a total transaction of $41,850.00. Following the completion of the transaction, the vice president now owns 33,218 shares of the company’s stock, valued at approximately $2,491,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ:CCOI opened at $76.09 on Tuesday. Cogent Communications Holdings, Inc. has a twelve month low of $53.20 and a twelve month high of $90.96. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 176.95, a price-to-earnings-growth ratio of 7.46 and a beta of 0.10. The stock has a fifty day simple moving average of $68.21 and a 200-day simple moving average of $61.46.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Wednesday, April 28th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.18 by $0.23. The firm had revenue of $146.78 million for the quarter, compared to analyst estimates of $144.17 million. Cogent Communications had a negative return on equity of 17.36% and a net margin of 3.60%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. On average, analysts forecast that Cogent Communications Holdings, Inc. will post 0.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Friday, May 14th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $3.12 annualized dividend and a dividend yield of 4.10%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.76. Cogent Communications’s dividend payout ratio (DPR) is currently 397.37%.

Institutional investors have recently made changes to their positions in the company. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Cogent Communications by 41.7% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 108,263 shares of the technology company’s stock valued at $8,253,000 after buying an additional 31,875 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Cogent Communications by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 17,175 shares of the technology company’s stock valued at $1,181,000 after buying an additional 300 shares during the period. Ipswich Investment Management Co. Inc. grew its stake in Cogent Communications by 19.5% in the fourth quarter. Ipswich Investment Management Co. Inc. now owns 19,320 shares of the technology company’s stock valued at $1,157,000 after purchasing an additional 3,150 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Cogent Communications by 10.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,167 shares of the technology company’s stock valued at $489,000 after purchasing an additional 792 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Cogent Communications by 3.1% in the fourth quarter. Pacer Advisors Inc. now owns 269,715 shares of the technology company’s stock valued at $16,148,000 after purchasing an additional 8,098 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

CCOI has been the subject of several recent analyst reports. Moffett Nathanson raised shares of Cogent Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $69.00 in a research note on Wednesday, February 3rd. Oppenheimer raised shares of Cogent Communications from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Cogent Communications from a “strong sell” rating to a “hold” rating and set a $75.00 target price for the company in a research report on Wednesday, April 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.50.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, 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.

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

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