Cogent Communications Holdings, Inc. (NASDAQ:CCOI) VP Raymond B. Kummer sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $46.62, for a total value of $186,480.00. Following the completion of the sale, the vice president now owns 53,340 shares in the company, valued at $2,486,710.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Cogent Communications Holdings, Inc. (CCOI) opened at 47.85 on Friday. Cogent Communications Holdings, Inc. has a 52-week low of $34.23 and a 52-week high of $47.88. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 136.71 and a beta of 0.71. The company’s 50-day moving average price is $44.16 and its 200-day moving average price is $42.20.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The firm had revenue of $119.80 million during 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%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.09 earnings per share. Equities research analysts forecast that Cogent Communications Holdings, Inc. will post $0.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Wednesday, August 16th. This is a boost from Cogent Communications Holdings’s previous quarterly dividend of $0.44. Cogent Communications Holdings’s payout ratio is presently 511.11%.

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CCOI has been the topic of several analyst reports. Off Wall Street initiated coverage on Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 price objective on the stock. BidaskClub lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price objective on shares of Cogent Communications Holdings in a research note on Thursday, May 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a research note on Friday, July 14th. Finally, Zacks Investment Research lowered Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $42.45.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC grew its stake in shares of Cogent Communications Holdings by 63.4% during the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after buying an additional 1,024 shares during the last quarter. LS Investment Advisors LLC grew its stake in shares of Cogent Communications Holdings by 74.2% during the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock worth $111,000 after buying an additional 1,095 shares during the last quarter. Sei Investments Co. grew its stake in shares of Cogent Communications Holdings by 29.7% during the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after buying an additional 670 shares during the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of Cogent Communications Holdings by 36.5% during the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock worth $122,000 after buying an additional 756 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Cogent Communications Holdings during the second quarter worth $140,000. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

About Cogent Communications Holdings

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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