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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) VP Henry W. Kilmer sold 2,400 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $47.95, for a total value of $115,080.00. Following the completion of the sale, the vice president now directly owns 38,600 shares in the company, valued at $1,850,870. This represents a 5.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cogent Communications Trading Down 0.4%

NASDAQ CCOI traded down $0.19 on Thursday, hitting $48.00. 721,554 shares of the company were exchanged, compared to its average volume of 501,991. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications Holdings, Inc. has a twelve month low of $43.65 and a twelve month high of $86.76. The firm has a market capitalization of $2.37 billion, a P/E ratio of 61.54 and a beta of 0.72. The company's 50 day moving average price is $50.76 and its 200-day moving average price is $66.29.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share (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 firm had revenue of $247.05 million for the quarter, compared to analyst estimates of $250.81 million. During the same quarter in the prior year, the firm earned ($1.38) EPS. The firm's revenue was down 7.2% compared to the same quarter last year. Analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd were issued a $1.01 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.42%. This is a positive change from Cogent Communications's previous quarterly dividend of $1.01. Cogent Communications's dividend payout ratio is presently -100.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. UBS Group lowered their price objective on shares of Cogent Communications from $102.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group cut their target price on shares of Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Cogent Communications currently has a consensus rating of "Hold" and a consensus price target of $75.75.

Institutional Trading of Cogent Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. AlphaQuest LLC acquired a new position in Cogent Communications in the 1st quarter valued at approximately $36,000. Hillsdale Investment Management Inc. purchased a new position in Cogent Communications in the fourth quarter valued at about $46,000. Blue Trust Inc. increased its position in Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after purchasing an additional 218 shares during the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Cogent Communications by 58.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after purchasing an additional 229 shares in the last quarter. Finally, Resources Management Corp CT ADV purchased a new stake in shares of Cogent Communications during the 1st quarter worth about $48,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Cogent Communications Company Profile

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.