Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Raymond B. Kummer sold 2,000 shares of Cogent Communications Holdings stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $45.78, for a total value of $91,560.00. Following the transaction, the vice president now directly owns 59,140 shares in the company, valued at $2,707,429.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Cogent Communications Holdings, Inc. (NASDAQ CCOI) traded up 0.21% during mid-day trading on Friday, reaching $46.70. The company’s stock had a trading volume of 300,645 shares. Cogent Communications Holdings, Inc. has a 12 month low of $34.23 and a 12 month high of $47.12. The company has a market cap of $2.09 billion, a P/E ratio of 133.43 and a beta of 0.74. The company has a 50-day moving average of $43.38 and a 200-day moving average of $41.95.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $119.80 million for the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. Cogent Communications Holdings’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. Equities research analysts forecast that Cogent Communications Holdings, Inc. will post $0.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.84 annualized dividend and a dividend yield of 3.94%. This is an increase from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s dividend payout ratio (DPR) is 511.11%.

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Several research firms have recently weighed in on CCOI. BidaskClub lowered Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada lifted their price objective on Cogent Communications Holdings from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Zacks Investment Research raised Cogent Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Cowen and Company reissued a “hold” rating and issued a $42.00 price objective on shares of Cogent Communications Holdings in a research report on Friday, July 28th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $42.45.

Several large investors have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Cogent Communications Holdings by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock valued at $288,000 after buying an additional 38 shares during the period. Pinebridge Investments L.P. increased its stake in shares of Cogent Communications Holdings by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock valued at $217,000 after buying an additional 53 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Cogent Communications Holdings by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,520 shares of the technology company’s stock valued at $194,000 after buying an additional 80 shares during the period. Aperio Group LLC increased its stake in shares of Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after buying an additional 99 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Cogent Communications Holdings by 0.5% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock valued at $858,000 after buying an additional 100 shares during the period. 93.54% of the stock is owned by institutional investors.

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.

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

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