Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Raymond B. Kummer sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $52.30, for a total transaction of $156,900.00. Following the transaction, the vice president now directly owns 46,440 shares of the company’s stock, valued at approximately $2,428,812. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of CCOI traded up $1.36 during midday trading on Thursday, reaching $52.82. The stock had a trading volume of 381,725 shares, compared to its average volume of 270,360. Cogent Communications Holdings Inc has a 1-year low of $41.60 and a 1-year high of $57.65. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 83.84, a PEG ratio of 7.29 and a beta of 0.69.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, February 21st. The technology company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Cogent Communications had a net margin of 5.51% and a negative return on equity of 23.57%. The firm had revenue of $132.05 million during the quarter, compared to analyst estimates of $132.63 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Cogent Communications’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that Cogent Communications Holdings Inc will post 0.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a dividend of $0.58 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, March 7th. Cogent Communications’s dividend payout ratio (DPR) is currently 368.25%.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Cogent Communications from a “buy” rating to a “sell” rating in a research report on Wednesday, February 20th. ValuEngine raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada raised their price target on shares of Cogent Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, February 25th. Deutsche Bank raised shares of Cogent Communications from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Monday, December 17th. Finally, BidaskClub cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Cogent Communications has an average rating of “Hold” and a consensus target price of $50.14.

A number of large investors have recently made changes to their positions in CCOI. Slow Capital Inc. grew its position in Cogent Communications by 1.8% during the 4th quarter. Slow Capital Inc. now owns 13,619 shares of the technology company’s stock worth $616,000 after purchasing an additional 239 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Cogent Communications by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 14,017 shares of the technology company’s stock valued at $633,000 after acquiring an additional 280 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of Cogent Communications by 3.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 9,954 shares of the technology company’s stock valued at $450,000 after acquiring an additional 324 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Cogent Communications by 7.0% in the fourth quarter. GSA Capital Partners LLP now owns 5,993 shares of the technology company’s stock valued at $271,000 after acquiring an additional 393 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cogent Communications by 16.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,895 shares of the technology company’s stock valued at $131,000 after acquiring an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 89.38% of the company’s stock.

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Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.

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

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