Cogent Communications Holdings Inc (CCOI) Director Steven D. Brooks Sells 3,000 Shares of Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Steven D. Brooks sold 3,000 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $41.77, for a total transaction of $125,310.00. Following the transaction, the director now owns 32,900 shares in the company, valued at $1,374,233. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) traded up 2.99% during midday trading on Monday, hitting $43.05. 977,284 shares of the stock were exchanged. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 130.45 and a beta of 0.93. Cogent Communications Holdings Inc has a 1-year low of $34.23 and a 1-year high of $44.40. The stock’s 50-day moving average price is $41.40 and its 200-day moving average price is $39.10.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.03. The company earned $97.24 million during the quarter, compared to analysts’ expectations of $115.87 million. Cogent Communications Holdings had a net margin of 3.10% and a negative return on equity of 53.79%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, analysts forecast that Cogent Communications Holdings Inc will post $0.53 EPS for the current year.

Insider Buying and Selling by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a $0.42 dividend. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Wednesday, March 8th. Cogent Communications Holdings’s dividend payout ratio is presently 516.13%.

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A number of equities analysts recently weighed in on CCOI shares. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Thursday, January 5th. Stifel Nicolaus started coverage on shares of Cogent Communications Holdings in a report on Friday, January 13th. They set a “buy” rating and a $48.00 target price on the stock. TheStreet upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a report on Friday, November 25th. Goldman Sachs Group Inc started coverage on shares of Cogent Communications Holdings in a report on Thursday, March 2nd. They set a “neutral” rating and a $43.00 target price on the stock. Finally, SunTrust Banks, Inc. started coverage on shares of Cogent Communications Holdings in a report on Monday, December 12th. They set a “buy” rating and a $43.00 target price on the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $42.75.

A number of large investors have recently added to or reduced their stakes in CCOI. Skylands Capital LLC raised its stake in Cogent Communications Holdings by 23.0% in the third quarter. Skylands Capital LLC now owns 386,350 shares of the company’s stock worth $14,222,000 after buying an additional 72,350 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Cogent Communications Holdings by 32.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,090 shares of the company’s stock worth $445,000 after buying an additional 2,980 shares during the last quarter. Suntrust Banks Inc. raised its stake in Cogent Communications Holdings by 13.0% in the third quarter. Suntrust Banks Inc. now owns 83,040 shares of the company’s stock worth $3,056,000 after buying an additional 9,542 shares during the last quarter. California Public Employees Retirement System raised its stake in Cogent Communications Holdings by 2.5% in the third quarter. California Public Employees Retirement System now owns 110,600 shares of the company’s stock worth $4,071,000 after buying an additional 2,700 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Cogent Communications Holdings by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,019,877 shares of the company’s stock worth $37,542,000 after buying an additional 23,587 shares during the last quarter. 99.84% of the stock is owned by institutional investors and hedge funds.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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