Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Free Report) Director Lewis H. Ferguson sold 650 shares of Cogent Communications stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $69.64, for a total transaction of $45,266.00. Following the completion of the sale, the director now directly owns 16,367 shares of the company’s stock, valued at approximately $1,139,797.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cogent Communications Trading Up 0.2 %

NASDAQ CCOI opened at $70.58 on Friday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 2.99 and a beta of 0.45. The business’s fifty day moving average is $65.09 and its 200-day moving average is $64.70. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.72 and a quick ratio of 1.72. Cogent Communications Holdings, Inc. has a one year low of $46.75 and a one year high of $75.00.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 24th will be paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 5.36%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.94. The ex-dividend date is Wednesday, August 23rd. Cogent Communications’s payout ratio is presently 16.00%.

Analyst Upgrades and Downgrades

CCOI has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Cogent Communications from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $72.00 to $70.00 in a report on Monday, May 8th. TheStreet raised Cogent Communications from a “c” rating to a “b-” rating in a research note on Friday, August 11th. TD Cowen raised Cogent Communications from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Friday, August 11th. StockNews.com began coverage on Cogent Communications in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, 888 restated a “reiterates” rating on shares of Cogent Communications in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.10.

View Our Latest Stock Analysis on CCOI

Hedge Funds Weigh In On Cogent Communications

Several institutional investors and hedge funds have recently bought and sold shares of CCOI. Spire Wealth Management lifted its position in shares of Cogent Communications by 155.8% during the 1st quarter. Spire Wealth Management now owns 399 shares of the technology company’s stock valued at $25,000 after buying an additional 243 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Cogent Communications by 70.0% during the second quarter. 1832 Asset Management L.P. now owns 408 shares of the technology company’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Cogent Communications by 153.4% during the second quarter. Geneos Wealth Management Inc. now owns 413 shares of the technology company’s stock worth $28,000 after purchasing an additional 250 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Cogent Communications in the fourth quarter valued at approximately $28,000. Finally, Quadrant Capital Group LLC raised its position in shares of Cogent Communications by 123.3% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the technology company’s stock valued at $39,000 after purchasing an additional 381 shares during the period. 85.79% of the stock is owned by institutional investors.

Cogent Communications Company Profile

(Get Free Report)

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.

Further Reading

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