Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Free Report) Director Blake Bath sold 379 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $67.00, for a total transaction of $25,393.00. Following the completion of the sale, the director now directly owns 27,941 shares of the company’s stock, valued at $1,872,047. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cogent Communications Trading Down 1.4 %
Shares of CCOI opened at $65.60 on Friday. The firm’s 50-day moving average is $64.75 and its two-hundred day moving average is $64.89. Cogent Communications Holdings, Inc. has a twelve month low of $54.57 and a twelve month high of $75.00. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $3.19 billion, a P/E ratio of 2.90 and a beta of 0.43.
Cogent Communications Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a $0.955 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $3.82 annualized dividend and a yield of 5.82%. Cogent Communications’s dividend payout ratio is 16.73%.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several analysts have commented on the company. StockNews.com downgraded Cogent Communications from a “hold” rating to a “sell” rating in a research note on Monday, November 13th. TD Cowen raised Cogent Communications from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Friday, August 11th. TheStreet cut shares of Cogent Communications from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. KeyCorp raised their target price on shares of Cogent Communications from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Cogent Communications from $60.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cogent Communications currently has an average rating of “Hold” and a consensus price target of $75.38.
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, 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.
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