Key Points
- Cogent VP Henry Kilmer sold 2,400 shares at an average price of $23.35 on March 6 for a total of $56,040, trimming his stake by 5.53% to 41,000 shares.
- For the quarter Cogent reported EPS of -$0.64 (beating estimates of -$1.09) on revenue of $240.52M (slightly below estimates), while the company posted a negative net margin of 18.67% and revenue declined 4.7% year‑over‑year.
- Shares trade around $22.50 with a market cap of about $1.13B, a quarterly dividend of $0.02 (0.4% yield), and an average analyst rating of "Hold" with a $26.78 price target.
Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) VP Henry Kilmer sold 2,400 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $23.35, for a total transaction of $56,040.00. Following the sale, the vice president owned 41,000 shares in the company, valued at approximately $957,350. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Cogent Communications Price Performance
Shares of NASDAQ:CCOI opened at $22.50 on Tuesday. The company has a market capitalization of $1.13 billion, a P/E ratio of -5.91 and a beta of 0.84. Cogent Communications Holdings, Inc. has a 1-year low of $15.96 and a 1-year high of $71.82. The firm's 50 day simple moving average is $23.07 and its two-hundred day simple moving average is $28.86. The company has a debt-to-equity ratio of 49.06, a current ratio of 2.04 and a quick ratio of 2.04.
Cogent Communications (NASDAQ:CCOI - Get Free Report) last announced its quarterly earnings data on Friday, February 20th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.09) by $0.45. The firm had revenue of $240.52 million during the quarter, compared to analysts' expectations of $243.82 million. Cogent Communications had a negative net margin of 18.67% and a negative return on equity of 842.48%. The company's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.91) earnings per share. Research analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.
Cogent Communications Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $0.08 annualized dividend and a yield of 0.4%. Cogent Communications's dividend payout ratio is currently -2.10%.
Institutional Trading of Cogent Communications
Several hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Cogent Communications during the 4th quarter valued at about $28,000. Virtu Financial LLC bought a new stake in shares of Cogent Communications in the fourth quarter worth about $416,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Cogent Communications by 60.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,857 shares of the technology company's stock worth $407,000 after purchasing an additional 7,071 shares during the last quarter. Twinbeech Capital LP purchased a new stake in shares of Cogent Communications in the fourth quarter worth about $398,000. Finally, Man Group plc boosted its stake in Cogent Communications by 2,685.1% during the fourth quarter. Man Group plc now owns 326,168 shares of the technology company's stock valued at $7,032,000 after buying an additional 314,457 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Royal Bank Of Canada decreased their price target on Cogent Communications from $40.00 to $23.00 and set a "sector perform" rating on the stock in a report on Thursday, November 13th. TD Cowen reiterated a "buy" rating on shares of Cogent Communications in a research report on Monday, February 23rd. Weiss Ratings reissued a "sell (d+)" rating on shares of Cogent Communications in a research note on Monday, December 22nd. Oppenheimer lowered their price target on Cogent Communications from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, February 23rd. Finally, Williams Trading set a $40.00 price target on Cogent Communications in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $26.78.
Read Our Latest Stock Analysis on Cogent Communications
Cogent Communications Company Profile
(
Get Free Report)
Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent's core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.
In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.
Further Reading
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