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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry W. Kilmer sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the transaction, the vice president now directly owns 41,000 shares in the company, valued at $2,975,370. The trade was a 5.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cogent Communications Trading Up 0.4 %

Shares of CCOI opened at $69.93 on Wednesday. Cogent Communications Holdings, Inc. has a twelve month low of $50.80 and a twelve month high of $86.76. The firm has a market capitalization of $3.45 billion, a P/E ratio of 89.65 and a beta of 0.45. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock’s fifty day simple moving average is $75.89 and its 200 day simple moving average is $76.97.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.31. The business had revenue of $252.29 million for 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%. On average, equities research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 5.75%. The ex-dividend date is Thursday, March 13th. Cogent Communications’s payout ratio is currently -93.49%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group began coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target for the company. StockNews.com upgraded Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $80.25.

Hedge Funds Weigh In On Cogent Communications

A number of hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC boosted its position in Cogent Communications by 85.7% during the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock worth $1,284,000 after purchasing an additional 7,803 shares during the period. PEAK6 Investments LLC purchased a new position in Cogent Communications in the third quarter valued at about $1,720,000. Citigroup Inc. lifted its stake in shares of Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock worth $4,297,000 after purchasing an additional 20,510 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Cogent Communications by 136.5% in the third quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock worth $11,025,000 after buying an additional 83,816 shares during the period. Finally, Atom Investors LP acquired a new stake in shares of Cogent Communications in the third quarter valued at about $4,565,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

About Cogent Communications

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.