Cogent Communications (NASDAQ:CCOI) VP Henry Kilmer Sells 2,400 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Henry Kilmer sold 2,400 shares of Cogent Communications stock in a transaction on Friday, March 6th. The stock was sold at an average price of $23.35, for a total value of $56,040.00. Following the completion of the sale, the vice president directly owned 41,000 shares of the company’s stock, valued at approximately $957,350. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cogent Communications Trading Down 2.5%

Shares of NASDAQ:CCOI opened at $22.50 on Tuesday. The company has a debt-to-equity ratio of 49.06, a current ratio of 2.04 and a quick ratio of 2.04. Cogent Communications Holdings, Inc. has a 1 year low of $15.96 and a 1 year high of $71.82. The company has a market cap of $1.13 billion, a P/E ratio of -5.91 and a beta of 0.84. The stock’s fifty day moving average price is $23.07 and its 200-day moving average price is $28.86.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Friday, February 20th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.09) by $0.45. Cogent Communications had a negative net margin of 18.67% and a negative return on equity of 842.48%. The business had revenue of $240.52 million for the quarter, compared to analysts’ expectations of $243.82 million. During the same quarter in the prior year, the business earned ($0.91) EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.02 dividend. The ex-dividend date is Friday, March 6th. This represents a $0.08 annualized dividend and a yield of 0.4%. Cogent Communications’s dividend payout ratio (DPR) is currently -2.10%.

Institutional Investors Weigh In On Cogent Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in Cogent Communications in the 4th quarter worth $28,000. Virtu Financial LLC bought a new stake in Cogent Communications during the fourth quarter valued at about $416,000. Mercer Global Advisors Inc. ADV increased its position in Cogent Communications by 60.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,857 shares of the technology company’s stock worth $407,000 after buying an additional 7,071 shares in the last quarter. Twinbeech Capital LP purchased a new stake in Cogent Communications in the fourth quarter worth about $398,000. Finally, Man Group plc raised its stake in shares of Cogent Communications by 2,685.1% in the fourth quarter. Man Group plc now owns 326,168 shares of the technology company’s stock worth $7,032,000 after buying an additional 314,457 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cogent Communications in a research note on Monday, December 22nd. Citigroup cut their price objective on Cogent Communications from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Zacks Research upgraded Cogent Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. TD Cowen reissued a “buy” rating on shares of Cogent Communications in a report on Monday, February 23rd. Finally, Williams Trading set a $40.00 target price on Cogent Communications in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cogent Communications has an average rating of “Hold” and a consensus target price of $26.78.

Cogent Communications Company Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.