Thaddeus Gerard Weed Sells 4,900 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 4,900 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now owns 103,000 shares in the company, valued at $7,422,180. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cogent Communications Stock Performance

Shares of CCOI opened at $71.26 on Wednesday. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The stock has a 50 day moving average price of $76.47 and a two-hundred day moving average price of $77.09. The firm has a market capitalization of $3.49 billion, a P/E ratio of 91.36 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The business 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $1.005 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date is Thursday, March 13th. Cogent Communications’s dividend payout ratio (DPR) is presently -93.49%.

Institutional Investors Weigh In On Cogent Communications

A number of institutional investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. lifted its position in shares of Cogent Communications by 246.0% during the 4th quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company’s stock worth $69,973,000 after buying an additional 645,521 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cogent Communications during the fourth quarter valued at approximately $39,845,000. Brown Advisory Inc. lifted its holdings in Cogent Communications by 24.1% during the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock worth $146,209,000 after acquiring an additional 368,129 shares during the period. Hood River Capital Management LLC boosted its position in Cogent Communications by 21.8% in the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after purchasing an additional 257,383 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Cogent Communications by 45.7% in the 4th quarter. Ameriprise Financial Inc. now owns 752,158 shares of the technology company’s stock valued at $57,961,000 after purchasing an additional 235,842 shares during the period. 92.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a report on Monday. UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They set a “buy” rating and a $102.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $80.25.

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.