Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $59.20, for a total transaction of $142,080.00. Following the transaction, the vice president now owns 33,600 shares in the company, valued at approximately $1,989,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of CCOI stock traded up $0.51 during trading hours on Tuesday, reaching $60.50. 4,227 shares of the company were exchanged, compared to its average volume of 263,133. Cogent Communications Holdings, Inc. has a fifty-two week low of $55.16 and a fifty-two week high of $80.50. The stock’s fifty day moving average is $62.52 and its two-hundred day moving average is $65.87. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 93.74 and a beta of 0.31.
Cogent Communications (NASDAQ:CCOI – Get Rating) last announced its earnings results on Friday, April 29th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.18). Cogent Communications had a negative return on equity of 6.39% and a net margin of 5.15%. The company had revenue of $149.20 million for the quarter, compared to analyst estimates of $149.10 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. Cogent Communications’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Cogent Communications Holdings, Inc. will post 0.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.82%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.86. The ex-dividend date was Thursday, May 12th. Cogent Communications’s payout ratio is 550.01%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Prospera Financial Services Inc bought a new stake in shares of Cogent Communications during the first quarter worth approximately $45,000. Tyler Stone Wealth Management bought a new stake in Cogent Communications in the fourth quarter valued at approximately $51,000. Northwestern Mutual Wealth Management Co. increased its stake in Cogent Communications by 41.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 792 shares of the technology company’s stock valued at $59,000 after purchasing an additional 233 shares in the last quarter. Rosenberg Matthew Hamilton bought a new stake in Cogent Communications in the first quarter valued at approximately $53,000. Finally, Huntington National Bank increased its stake in Cogent Communications by 3,905.0% in the fourth quarter. Huntington National Bank now owns 801 shares of the technology company’s stock valued at $59,000 after purchasing an additional 781 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Cogent Communications in a report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet lowered shares of Cogent Communications from a “b-” rating to a “c” rating in a research report on Friday, April 29th. Citigroup decreased their target price on shares of Cogent Communications from $73.00 to $70.00 in a research report on Monday, May 2nd. Finally, JPMorgan Chase & Co. Upgraded shares of Cogent Communications from a “neutral” rating to an “overweight” rating and set a $82.00 target price on the stock in a research report on Thursday, February 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cogent Communications currently has an average rating of “Hold” and an average target price of $74.14.
About Cogent Communications (Get Rating)
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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