Thaddeus Gerard Weed Sells 4,850 Shares of Cogent Communications (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Weed sold 4,850 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $9.37, for a total value of $45,444.50. Following the transaction, the chief financial officer owned 193,050 shares in the company, valued at $1,808,878.50. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 16th, Thaddeus Weed sold 4,850 shares of Cogent Communications stock. The stock was sold at an average price of $16.79, for a total transaction of $81,431.50.

Cogent Communications Price Performance

CCOI stock opened at $10.05 on Friday. The firm has a market cap of $514.76 million, a price-to-earnings ratio of -10.47 and a beta of 0.77. Cogent Communications Holdings, Inc. has a 1-year low of $8.88 and a 1-year high of $45.69. The firm has a fifty day moving average price of $11.55 and a two-hundred day moving average price of $16.54.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $2.38. Cogent Communications had a negative net margin of 4.73% and a negative return on equity of 842.48%. The company had revenue of $235.56 million for the quarter, compared to the consensus estimate of $239.55 million. During the same period last year, the firm posted ($1.21) EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts expect that Cogent Communications Holdings, Inc. will post -3.01 EPS for the current fiscal year.

Cogent Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Friday, August 21st were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. Cogent Communications’s dividend payout ratio (DPR) is currently -8.33%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CCOI shares. Wells Fargo & Company dropped their price target on Cogent Communications from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. UBS Group set a $9.00 price objective on Cogent Communications in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cogent Communications in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, KeyCorp dropped their price objective on shares of Cogent Communications from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCOI. FourWorld Capital Management LLC bought a new stake in shares of Cogent Communications during the first quarter valued at about $5,002,000. Granahan Investment Management LLC grew its position in Cogent Communications by 46.3% in the 1st quarter. Granahan Investment Management LLC now owns 317,447 shares of the technology company’s stock valued at $5,981,000 after buying an additional 100,422 shares in the last quarter. Vanguard Group Inc. increased its stake in Cogent Communications by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 5,580,271 shares of the technology company’s stock valued at $120,311,000 after buying an additional 217,450 shares during the period. Redmond Asset Management LLC increased its stake in Cogent Communications by 45.8% during the 4th quarter. Redmond Asset Management LLC now owns 200,082 shares of the technology company’s stock valued at $4,314,000 after buying an additional 62,828 shares during the period. Finally, Harspring Capital Management LLC raised its position in shares of Cogent Communications by 60.3% during the 4th quarter. Harspring Capital Management LLC now owns 1,402,500 shares of the technology company’s stock worth $30,238,000 after buying an additional 527,500 shares in the last quarter. Institutional investors own 92.45% of the company’s stock.

Key Stories Impacting Cogent Communications

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Potential investor recovery: Shareholders who purchased CCOI securities between February 29, 2024, and May 1, 2026, may seek appointment as lead plaintiff by September 21, 2026. Any financial recovery would depend on the outcome of the litigation. Robbins LLP CCOI class action notice
• Neutral Sentiment: September 21 deadline highlighted: Kaplan Fox, Hagens Berman, Faruqi & Faruqi and other firms reiterated the lead-plaintiff deadline. The announcements largely repeat the same lawsuit rather than represent new operating developments. Kaplan Fox CCOI deadline announcement
• Negative Sentiment: Securities-fraud allegations pressure sentiment: The complaint alleges Cogent and certain executives made misleading disclosures regarding optical-wavelength demand, backlog conversion, margin-loan risks, dividends and pledged-share foreclosures. Law firms also linked the allegations to an approximately 29% share-price decline. The claims remain unproven, but potential legal costs, reputational damage and uncertainty around prior disclosures are negative catalysts. Hagens Berman Cogent securities fraud notice
• Negative Sentiment: CFO insider sale: CFO Thaddeus Weed sold 4,850 shares for approximately $45,445, reducing his holdings by 2.45%. The transaction is relatively small compared with his remaining stake, but it may weigh on investor confidence amid the litigation headlines. Cogent CFO SEC Form 4 filing

About Cogent Communications

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.