Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer Sells 2,400 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOIGet Free Report) VP Henry W. Kilmer sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $56.00, for a total value of $134,400.00. Following the sale, the vice president now owns 38,600 shares of the company’s stock, valued at $2,161,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cogent Communications Trading Down 2.8 %

NASDAQ CCOI opened at $55.11 on Friday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.12 and a current ratio of 1.12. Cogent Communications Holdings, Inc. has a one year low of $54.34 and a one year high of $86.00. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 2.18 and a beta of 0.41. The firm has a 50 day simple moving average of $61.79 and a 200-day simple moving average of $68.48.

Cogent Communications (NASDAQ:CCOIGet Free Report) last posted its earnings results on Thursday, May 9th. The technology company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.19). Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. The business had revenue of $266.17 million during the quarter, compared to analysts’ expectations of $274.13 million. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.63 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd were paid a $0.975 dividend. The ex-dividend date was Wednesday, May 22nd. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.97. This represents a $3.90 dividend on an annualized basis and a yield of 7.08%. Cogent Communications’s payout ratio is currently 15.45%.

Institutional Trading of Cogent Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new stake in shares of Cogent Communications during the 1st quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its stake in Cogent Communications by 313.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock worth $38,000 after buying an additional 383 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Cogent Communications by 109.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock worth $48,000 after purchasing an additional 333 shares during the last quarter. Covestor Ltd boosted its holdings in Cogent Communications by 17.2% in the first quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock valued at $123,000 after acquiring an additional 276 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Cogent Communications during the first quarter valued at about $136,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on CCOI shares. JPMorgan Chase & Co. reduced their price objective on Cogent Communications from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a report on Thursday, February 29th. Bank of America lowered Cogent Communications from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $75.00 in a research report on Thursday, March 7th. KeyCorp reduced their price objective on Cogent Communications from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, StockNews.com cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.14.

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About Cogent Communications

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Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, 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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