Lewis H. Ferguson Sells 2,000 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $58.90, for a total transaction of $117,800.00. Following the transaction, the director now directly owns 17,623 shares of the company’s stock, valued at approximately $1,037,994.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cogent Communications Stock Down 1.6 %

Shares of Cogent Communications stock traded down $0.96 during trading hours on Wednesday, reaching $58.85. The company’s stock had a trading volume of 316,225 shares, compared to its average volume of 424,146. Cogent Communications Holdings, Inc. has a one year low of $57.11 and a one year high of $86.00. The company has a market capitalization of $2.88 billion, a P/E ratio of 2.33 and a beta of 0.39. The stock’s fifty day simple moving average is $62.95 and its two-hundred day simple moving average is $69.10. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.12 and a current ratio of 1.12.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, February 29th. The technology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.79. Cogent Communications had a net margin of 114.09% and a negative return on equity of 24.63%. The firm had revenue of $272.10 million for the quarter, compared to analyst estimates of $275.82 million. On average, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.54 earnings per share for the current year.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 23rd will be given a dividend of $0.975 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.97. This represents a $3.90 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date is Wednesday, May 22nd. Cogent Communications’s dividend payout ratio (DPR) is presently 15.29%.

Analyst Ratings Changes

CCOI has been the subject of several analyst reports. StockNews.com downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. TD Cowen decreased their price objective on shares of Cogent Communications from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 10th. 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 research report on Monday, May 13th. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b” rating in a research report on Thursday, February 29th. Finally, KeyCorp decreased their price objective on shares of Cogent Communications from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.14.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCOI. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 358 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Cogent Communications during the first quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its position in shares of 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 purchasing an additional 383 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Cogent Communications by 109.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock valued at $48,000 after purchasing an additional 333 shares in the last quarter. Finally, Strs Ohio raised its position in Cogent Communications by 20.0% in the third quarter. Strs Ohio now owns 1,800 shares of the technology company’s stock worth $111,000 after acquiring an additional 300 shares during the period. 92.45% of the stock is owned by institutional investors.

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.