Steven D. Brooks Sold 3,000 Shares of Cogent Communications Stake Inc (CCOI) Shares

Steven D. Brooks Sold 3,000 Shares of Cogent Communications Stake Inc (CCOI) Shares

Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Steven D. Brooks sold 3,000 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $41.77, for a total transaction of $125,310.00. Following the completion of the sale, the director now owns 32,900 shares of the company’s stock, valued at approximately $1,374,233. The transaction was disclosed in a filing with the SEC, which is available through this link.

Cogent Communications Holdings Inc (NASDAQ:CCOI) opened at 43.475 on Tuesday. Cogent Communications Holdings Inc has a one year low of $34.23 and a one year high of $44.40. The company has a 50 day moving average of $41.41 and a 200-day moving average of $39.10. The stock has a market capitalization of $1.94 billion, a P/E ratio of 131.742 and a beta of 0.93.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by $0.03. The firm had revenue of $97.24 million for the quarter, compared to analysts’ expectations of $115.87 million. Cogent Communications Holdings had a net margin of 3.10% and a negative return on equity of 53.79%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. Equities research analysts predict that Cogent Communications Holdings Inc will post $0.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, March 8th. This represents a $1.68 annualized dividend and a yield of 3.91%. This is a positive change from Cogent Communications Holdings’s previous quarterly dividend of $0.40. Cogent Communications Holdings’s dividend payout ratio (DPR) is currently 516.13%.

Several analysts have recently issued reports on the stock. FBR & Co reiterated an “underperform” rating and issued a $24.00 target price (up previously from $21.00) on shares of Cogent Communications Holdings in a research note on Monday, February 27th. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Monday, February 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Cogent Communications Holdings in a research note on Friday, February 24th. Jefferies Group LLC upped their target price on shares of Cogent Communications Holdings from $37.00 to $41.00 and gave the stock a “positive” rating in a research note on Friday, February 24th. Finally, Goldman Sachs Group Inc assumed coverage on shares of Cogent Communications Holdings in a research note on Thursday, March 2nd. They issued a “neutral” rating and a $43.00 target price for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $42.75.

Institutional investors have recently made changes to their positions in the stock. Skylands Capital LLC raised its position in shares of Cogent Communications Holdings by 23.0% in the third quarter. Skylands Capital LLC now owns 386,350 shares of the company’s stock valued at $14,222,000 after buying an additional 72,350 shares in the last quarter. Bank of Montreal Can raised its position in shares of Cogent Communications Holdings by 54.1% in the third quarter. Bank of Montreal Can now owns 286,377 shares of the company’s stock valued at $10,541,000 after buying an additional 100,558 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Cogent Communications Holdings by 51.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 820,000 shares of the company’s stock valued at $30,184,000 after buying an additional 280,000 shares in the last quarter. New Jersey Better Educational Savings Trust purchased a new position in shares of Cogent Communications Holdings during the third quarter valued at approximately $515,000. Finally, California Public Employees Retirement System raised its position in shares of Cogent Communications Holdings by 2.5% in the third quarter. California Public Employees Retirement System now owns 110,600 shares of the company’s stock valued at $4,071,000 after buying an additional 2,700 shares in the last quarter. 99.84% of the stock is owned by institutional investors and hedge funds.

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.

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