Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Sells 4,900 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) CFO Thaddeus Gerard Weed sold 4,900 shares of Cogent Communications stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $48.04, for a total value of $235,396.00. Following the completion of the transaction, the chief financial officer now owns 98,000 shares of the company's stock, valued at $4,707,920. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Thaddeus Gerard Weed also recently made the following trade(s):

• On Wednesday, May 28th, Thaddeus Gerard Weed sold 100 shares of Cogent Communications stock. The shares were sold at an average price of $47.66, for a total value of $4,766.00.

Cogent Communications Stock Performance

Shares of CCOI stock traded down $0.19 during trading hours on Thursday, reaching $48.00. The stock had a trading volume of 721,554 shares, compared to its average volume of 501,990. The firm has a market capitalization of $2.37 billion, a PE ratio of 61.54 and a beta of 0.72. The firm has a 50-day simple moving average of $50.76 and a 200-day simple moving average of $66.29. Cogent Communications Holdings, Inc. has a twelve month low of $43.65 and a twelve month high of $86.76. 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 (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.04). The business had revenue of $247.05 million for the quarter, compared to the consensus estimate of $250.81 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted ($1.38) EPS. As a group, equities analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

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

Analyst Ratings Changes

CCOI has been the subject of a number of research analyst reports. UBS Group lowered their price target on Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group reduced their price target 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. Finally, Wall Street Zen raised shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cogent Communications presently has an average rating of "Hold" and an average target price of $75.75.

Institutional Inflows and Outflows

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

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.