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

Cogent Communications Holdings Inc (NASDAQ:CCOI) traded up 2.99% on Monday, hitting $43.05. The stock had a trading volume of 977,284 shares. The firm has a 50-day moving average of $41.40 and a 200 day moving average of $39.10. The company 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 52 week low of $34.23 and a 52 week high of $44.40.

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

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.68 annualized dividend and a dividend yield of 3.91%. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.40. Cogent Communications Holdings’s payout ratio is currently 516.13%.

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Several equities research analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Cogent Communications Holdings in a research report on Friday, January 13th. They set a “buy” rating and a $48.00 target price for the company. Goldman Sachs Group Inc assumed coverage on Cogent Communications Holdings in a research report on Thursday, March 2nd. They set a “neutral” rating and a $43.00 target price for the company. Zacks Investment Research lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Monday, February 27th. BTIG Research raised their target price on Cogent Communications Holdings from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 13th. Finally, TheStreet lowered Cogent Communications Holdings from a “b-” rating to a “c+” rating in a research report on Friday, March 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $42.75.

A number of hedge funds have recently bought and sold shares of CCOI. First Trust Advisors LP boosted its stake in Cogent Communications Holdings by 39.7% in the third quarter. First Trust Advisors LP now owns 26,993 shares of the company’s stock worth $994,000 after buying an additional 7,666 shares during the period. Jennison Associates LLC boosted its stake in Cogent Communications Holdings by 4.4% in the third quarter. Jennison Associates LLC now owns 1,890,026 shares of the company’s stock worth $69,572,000 after buying an additional 79,368 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in Cogent Communications Holdings by 99.9% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 7,090 shares of the company’s stock worth $261,000 after buying an additional 3,544 shares during the period. Stanley Laman Group Ltd. boosted its stake in Cogent Communications Holdings by 3.7% in the third quarter. Stanley Laman Group Ltd. now owns 19,224 shares of the company’s stock worth $708,000 after buying an additional 683 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in Cogent Communications Holdings by 2,790.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 18,270 shares of the company’s stock worth $672,000 after buying an additional 17,638 shares during the period. Institutional investors own 99.84% of the company’s stock.

Cogent Communications Holdings Company Profile

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.

5 Day Chart for NASDAQ:CCOI

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