Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson Sells 1,100 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) Director Lewis H. Ferguson sold 1,100 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $47.57, for a total value of $52,327.00. Following the sale, the director now owns 18,904 shares in the company, valued at approximately $899,263.28. The trade was a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cogent Communications Trading Down 3.9%

Cogent Communications stock traded down $1.87 during trading on Friday, hitting $45.63. The company's stock had a trading volume of 907,615 shares, compared to its average volume of 496,729. The stock's fifty day moving average is $52.87 and its 200 day moving average is $68.03. Cogent Communications Holdings, Inc. has a 1-year low of $43.65 and a 1-year high of $86.76. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 58.50 and a beta of 0.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.04). Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company had revenue of $247.05 million for the quarter, compared to analyst estimates of $250.81 million. During the same period in the prior year, the company earned ($1.38) EPS. The company's revenue was down 7.2% compared to the same quarter last year. As a group, equities research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Thursday, May 22nd will be issued a $1.01 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a yield of 8.85%. This is a boost from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's dividend payout ratio (DPR) is presently -100.75%.

Hedge Funds Weigh In On Cogent Communications

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Cogent Communications by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company's stock valued at $394,182,000 after buying an additional 43,523 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Cogent Communications by 30.4% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,012,297 shares of the technology company's stock worth $123,374,000 after acquiring an additional 469,028 shares during the period. Brown Advisory Inc. grew its position in Cogent Communications by 24.1% in the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company's stock valued at $146,209,000 after acquiring an additional 368,129 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Cogent Communications by 21.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company's stock valued at $110,738,000 after purchasing an additional 257,383 shares during the period. Finally, DigitalBridge Group Inc. lifted its position in shares of Cogent Communications by 246.0% during the fourth quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company's stock worth $69,973,000 after purchasing an additional 645,521 shares in the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCOI has been the topic of several recent research reports. The Goldman Sachs Group decreased their price objective on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Cogent Communications to a "sell" rating in a report on Monday, March 3rd. Finally, UBS Group reduced their price target on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Cogent Communications presently has a consensus rating of "Hold" and a consensus price target of $75.75.

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.