Cogent Communications (NASDAQ:CCOI) Sets New 12-Month Low at $57.11

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $57.11 and last traded at $57.19, with a volume of 175985 shares. The stock had previously closed at $58.69.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CCOI shares. TD Cowen reduced their price target on Cogent Communications from $84.00 to $78.00 and set a "buy" rating for the company in a report on Friday, May 10th. StockNews.com cut shares of Cogent Communications from a "hold" rating to a "sell" rating in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Cogent Communications from $73.00 to $70.00 and set a "neutral" rating for the company in a report on Monday. TheStreet upgraded Cogent Communications from a "c+" rating to a "b" rating in a research note on Thursday, February 29th. Finally, KeyCorp decreased their price target on Cogent Communications from $88.00 to $80.00 and set an "overweight" rating for the company in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cogent Communications has an average rating of "Hold" and an average price target of $75.14.

Cogent Communications Stock Down 1.4 %

The company has a market cap of $2.74 billion, a P/E ratio of 2.33 and a beta of 0.39. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80. The company has a fifty day moving average of $63.84 and a 200 day moving average of $69.33.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.95) by $0.79. Cogent Communications had a negative return on equity of 24.63% and a net margin of 114.09%. The business had revenue of $272.10 million during the quarter, compared to the consensus estimate of $275.82 million. On average, research analysts anticipate that Cogent Communications Holdings, Inc. will post -3.97 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 23rd will be given a $0.975 dividend. The ex-dividend date is Wednesday, May 22nd. This is an increase from Cogent Communications's previous quarterly dividend of $0.97. This represents a $3.90 annualized dividend and a yield of 6.74%. Cogent Communications's dividend payout ratio (DPR) is presently 15.29%.

Insider Transactions at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $76.62, for a total value of $147,110.40. Following the completion of the sale, the executive now directly owns 54,822 shares in the company, valued at approximately $4,200,461.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $76.62, for a total transaction of $147,110.40. Following the sale, the executive now owns 54,822 shares in the company, valued at approximately $4,200,461.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Henry W. Kilmer sold 2,400 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $73.47, for a total transaction of $176,328.00. Following the completion of the transaction, the vice president now owns 41,000 shares of the company's stock, valued at $3,012,270. The disclosure for this sale can be found here. Insiders have sold 119,320 shares of company stock worth $7,641,997 in the last 90 days. 11.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cogent Communications

Several institutional investors and hedge funds have recently modified their holdings of CCOI. EverSource Wealth Advisors LLC grew its stake in Cogent Communications by 895.0% during the third quarter. EverSource Wealth Advisors LLC now owns 398 shares of the technology company's stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. EntryPoint Capital LLC bought a new position in Cogent Communications during the first quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its stake in Cogent Communications by 313.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company's stock valued at $38,000 after buying an additional 383 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Cogent Communications by 109.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company's stock valued at $48,000 after buying an additional 333 shares in the last quarter. Finally, Strs Ohio grew its holdings in Cogent Communications by 20.0% during the 3rd quarter. Strs Ohio now owns 1,800 shares of the technology company's stock valued at $111,000 after buying an additional 300 shares in the last quarter. Institutional investors 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.

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