Insider Selling: Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Sells 4,000 Shares of Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Timothy G. Oneill sold 4,000 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.62, for a total transaction of $234,480.00. Following the transaction, the vice president now directly owns 36,000 shares in the company, valued at approximately $2,110,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ CCOI opened at $59.36 on Friday. The stock has a 50-day simple moving average of $58.53. Cogent Communications Holdings Inc has a 52-week low of $42.40 and a 52-week high of $61.43. The company has a market capitalization of $2.75 billion, a PE ratio of 94.22, a P/E/G ratio of 8.31 and a beta of 0.57.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Cogent Communications had a net margin of 5.92% and a negative return on equity of 22.47%. The firm had revenue of $134.20 million for the quarter, compared to analysts’ expectations of $135.21 million. During the same quarter last year, the company posted $0.15 earnings per share. Cogent Communications’s revenue was up 4.3% on a year-over-year basis. Analysts forecast that Cogent Communications Holdings Inc will post 0.89 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.60 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.40 annualized dividend and a dividend yield of 4.04%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.58. Cogent Communications’s dividend payout ratio (DPR) is presently 380.95%.

Several large investors have recently made changes to their positions in the business. Royce & Associates LP increased its stake in shares of Cogent Communications by 29.2% in the first quarter. Royce & Associates LP now owns 810 shares of the technology company’s stock valued at $44,000 after purchasing an additional 183 shares during the period. Capital Insight Partners LLC increased its stake in shares of Cogent Communications by 1.1% in the first quarter. Capital Insight Partners LLC now owns 23,805 shares of the technology company’s stock valued at $1,291,000 after purchasing an additional 259 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Cogent Communications by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,200 shares of the technology company’s stock valued at $879,000 after purchasing an additional 293 shares during the period. Piedmont Investment Advisors Inc. increased its stake in shares of Cogent Communications by 3.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 9,954 shares of the technology company’s stock valued at $450,000 after purchasing an additional 324 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of Cogent Communications by 7.0% in the fourth quarter. GSA Capital Partners LLP now owns 5,993 shares of the technology company’s stock valued at $271,000 after purchasing an additional 393 shares during the period. Institutional investors own 89.76% of the company’s stock.

CCOI has been the topic of several research analyst reports. Oppenheimer cut shares of Cogent Communications from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. Credit Suisse Group began coverage on shares of Cogent Communications in a research report on Friday, May 31st. They set an “outperform” rating and a $68.00 price target on the stock. BidaskClub raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Friday, May 10th. ValuEngine raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Finally, Zacks Investment Research raised shares of Cogent Communications from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $51.71.

About Cogent Communications

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

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