Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) Director Lewis H. Ferguson sold 956 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $69.36, for a total transaction of $66,308.16. Following the completion of the transaction, the director now owns 18,652 shares of the company's stock, valued at approximately $1,293,702.72. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cogent Communications Stock Down 3.3 %
CCOI stock opened at $67.61 on Friday. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a 50-day simple moving average of $75.75 and a 200-day simple moving average of $76.92. The stock has a market capitalization of $3.33 billion, a P/E ratio of 86.68 and a beta of 0.45.
Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.31. The company had revenue of $252.29 million during the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.
Cogent Communications Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $1.005 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.02 dividend on an annualized basis and a yield of 5.95%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.00. Cogent Communications's dividend payout ratio (DPR) is presently -93.49%.
Institutional Investors Weigh In On Cogent Communications
A number of large investors have recently modified their holdings of CCOI. Capstone Triton Financial Group LLC lifted its stake in shares of Cogent Communications by 11.3% in the fourth quarter. Capstone Triton Financial Group LLC now owns 11,580 shares of the technology company's stock worth $892,000 after buying an additional 1,179 shares in the last quarter. Ulysses Management LLC lifted its stake in Cogent Communications by 9.6% in the 4th quarter. Ulysses Management LLC now owns 372,166 shares of the technology company's stock worth $28,683,000 after purchasing an additional 32,596 shares in the last quarter. Turtle Creek Asset Management Inc. acquired a new position in shares of Cogent Communications during the 4th quarter worth approximately $9,649,000. Tyro Capital Management LLC grew its position in shares of Cogent Communications by 20.1% in the fourth quarter. Tyro Capital Management LLC now owns 420,825 shares of the technology company's stock valued at $32,433,000 after purchasing an additional 70,521 shares in the last quarter. Finally, Shellback Capital LP acquired a new stake in shares of Cogent Communications in the fourth quarter valued at approximately $9,255,000. Hedge funds and other institutional investors own 92.45% of the company's stock.
Analyst Ratings Changes
CCOI has been the subject of a number of recent analyst reports. UBS Group assumed coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 price objective for the company. StockNews.com upgraded Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $80.25.
Read Our Latest Report on CCOI
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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