Cogent Communications Holdings, Inc. (CCOI) Director Marc Montagner Sells 2,000 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Marc Montagner sold 2,000 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $50.00, for a total value of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Cogent Communications traded down $0.10, hitting $49.90, during midday trading on Friday, according to MarketBeat. 225,921 shares of the stock were exchanged, compared to its average volume of 287,477. Cogent Communications Holdings, Inc. has a 52-week low of $35.75 and a 52-week high of $54.85. The firm has a market cap of $2.35 billion, a P/E ratio of 131.32, a P/E/G ratio of 6.98 and a beta of 0.47. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of -7.33.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, May 3rd. The technology company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Cogent Communications had a negative return on equity of 22.60% and a net margin of 1.72%. The business had revenue of $128.70 million during the quarter, compared to analyst estimates of $127.88 million. During the same period last year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. sell-side analysts expect that Cogent Communications Holdings, Inc. will post 0.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, May 17th will be given a dividend of $0.52 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, May 16th. Cogent Communications’s dividend payout ratio (DPR) is currently 547.37%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Cogent Communications by 2.5% during the first quarter. Comerica Bank now owns 43,564 shares of the technology company’s stock worth $2,082,000 after buying an additional 1,051 shares during the period. Sei Investments Co. boosted its position in shares of Cogent Communications by 29.7% during the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock worth $232,000 after buying an additional 1,223 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Cogent Communications by 4.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 27,654 shares of the technology company’s stock worth $1,253,000 after buying an additional 1,277 shares during the period. Denver Investment Advisors LLC boosted its position in shares of Cogent Communications by 6.3% during the first quarter. Denver Investment Advisors LLC now owns 21,918 shares of the technology company’s stock worth $951,000 after buying an additional 1,291 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Cogent Communications by 2.2% during the first quarter. Prudential Financial Inc. now owns 74,405 shares of the technology company’s stock worth $3,229,000 after buying an additional 1,581 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Several research analysts recently weighed in on the company. ValuEngine upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research report on Monday, May 7th. Zacks Investment Research upgraded Cogent Communications from a “sell” rating to a “hold” rating in a research report on Monday, May 7th. Deutsche Bank lowered Cogent Communications from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Thursday, May 3rd. They noted that the move was a valuation call. BidaskClub upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research report on Thursday, April 19th. Finally, William Blair reiterated a “buy” rating on shares of Cogent Communications in a research report on Wednesday, April 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Cogent Communications has a consensus rating of “Hold” and a consensus price target of $44.40.

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.

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

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