Henry W. Kilmer Sells 3,000 Shares of Cogent Communications Holdings Inc (CCOI) Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Henry W. Kilmer sold 3,000 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $46.68, for a total transaction of $140,040.00. Following the completion of the sale, the vice president now directly owns 31,200 shares in the company, valued at $1,456,416. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CCOI stock traded down $1.23 during midday trading on Friday, hitting $47.59. The company’s stock had a trading volume of 227,804 shares, compared to its average volume of 262,962. Cogent Communications Holdings Inc has a twelve month low of $35.75 and a twelve month high of $57.65. The firm has a market capitalization of $2.27 billion, a P/E ratio of 125.24, a PEG ratio of 9.25 and a beta of 0.55.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Cogent Communications had a net margin of 2.99% and a negative return on equity of 24.22%. The firm had revenue of $130.00 million for the quarter, compared to analyst estimates of $132.09 million. During the same period in the previous year, the business earned $0.08 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Equities analysts expect that Cogent Communications Holdings Inc will post 0.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were paid a $0.56 dividend. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.54. This represents a $2.24 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend was Thursday, November 15th. Cogent Communications’s payout ratio is presently 589.47%.

CCOI has been the topic of several research reports. BidaskClub cut shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. William Blair reaffirmed an “outperform” rating on shares of Cogent Communications in a research report on Monday, October 8th. BTIG Research cut shares of Cogent Communications from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. Wells Fargo & Co boosted their price objective on shares of Cogent Communications from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Friday, November 2nd. Finally, Citigroup boosted their price objective on shares of Cogent Communications from $39.00 to $42.00 and gave the company a “sell” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $50.71.

Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of Cogent Communications by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 350,727 shares of the technology company’s stock worth $15,222,000 after purchasing an additional 9,592 shares during the last quarter. Aperio Group LLC increased its stake in shares of Cogent Communications by 19.1% during the 2nd quarter. Aperio Group LLC now owns 16,154 shares of the technology company’s stock worth $863,000 after purchasing an additional 2,588 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Cogent Communications during the 2nd quarter worth about $311,000. Comerica Bank increased its stake in shares of Cogent Communications by 2.8% during the 2nd quarter. Comerica Bank now owns 44,797 shares of the technology company’s stock worth $2,432,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Cogent Communications during the 2nd quarter worth about $471,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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About Cogent Communications

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.

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