Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) Vice Chairman Henry W. Kilmer sold 2,400 shares of the company in a trade dated Tuesday, June 7. 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 of the company, valued at approximately $1,989,120. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website.
Shares of CCOI rose $0.51 during trading hours on Tuesday, hitting $60.50. 4,227 shares of the company were traded, with an 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 capitalization of $2.90 billion, a price-earnings ratio of 93.74 and a beta of 0.31.
Cogent Communications (NASDAQ:CCOI – Get Rating) last announced its results on Friday, April 29. The tech company reported earnings per share (EPS) of $0.02 for the quarter, missing analyst consensus estimates of $0.20 per ($0.18). Cogent Communications has a negative return on equity of 6.39% and a net margin of 5.15%. The company posted revenue of $149.20 million for the quarter, versus analyst estimates of $149.10 million. In the same quarter a year earlier, the company posted earnings per share of $0.41. Cogent Communications revenue for the quarter increased 1.6% year over year. As a group, sell-side analysts expect Cogent Communications Holdings, Inc. to post year-to-date EPS of 0.78.
The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Investors of record on Friday, May 13 received a dividend of $0.88 per share. This represents a dividend of $3.52 on an annualized basis and a dividend yield of 5.82%. This is an increase from Cogent Communications’ previous quarterly dividend of $0.86. The ex-dividend date was Thursday, May 12. Cogent Communications’ payout ratio is 550.01%.
Institutional investors and hedge funds have recently been buying and selling stocks. Prospera Financial Services Inc purchased a new equity stake in Cogent Communications during the first quarter worth approximately $45,000. Tyler Stone Wealth Management acquired a new stake in Cogent Communications in the fourth quarter worth 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 valued at $59,000 after buying 233 additional shares last quarter. Rosenberg Matthew Hamilton bought a new stake in Cogent Communications in the first quarter worth 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 valued at $59,000 after buying 781 additional shares in the last quarter. 86.06% of the shares are held by institutional investors and hedge funds.
Several research analysts have recently released reports on the stock. StockNews.com assumed coverage of Cogent Communications shares in a Thursday, March 31 report. They have placed a “holding” rating on the stock. TheStreet downgraded shares of Cogent Communications from a “b-” rating to a “c” rating in a Friday, April 29 research report. Citigroup lowered its price target on Cogent Communications shares from $73.00 to $70.00 in a Monday, May 2 research report. Finally, JPMorgan Chase & Co. upgraded shares of Cogent Communications from a “neutral” rating to an “overweight” rating and set a target price of $82.00 on the stock in a Thursday 10 research report. february. Two analysts rated the stock with a sell rating, two assigned a hold rating and three gave the stock a buy rating. Based on MarketBeat data, Cogent Communications currently has an average rating of “Hold” and an average target price of $74.14.
About Cogent Communications (Get an assessment)
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private networking, and data center colocation space services in North America, Europe, Asia, South America South, Australia and Africa. The Company provides Internet access and online private network services to law firms, financial services companies, and advertising and marketing companies, as well as healthcare providers, educational institutions and other professional services companies, other Internet service providers, telephone companies, cable companies, television companies, web hosting companies, media service providers, mobile phone operators, network companies content delivery and commercial content and application service providers.
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