Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Given Consensus Rating of “Hold” by Analysts

Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $75.86.

Several research firms have recently commented on CCOI. TD Cowen boosted their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, August 12th. KeyCorp lifted their target price on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Bank of America lowered Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. Finally, Citigroup lifted their price objective on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th.

Insider Activity

In related news, CEO Dave Schaeffer sold 60,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $54.60, for a total transaction of $3,276,000.00. Following the sale, the chief executive officer now owns 4,493,038 shares in the company, valued at approximately $245,319,874.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $69.77, for a total transaction of $133,958.40. Following the completion of the transaction, the executive now owns 50,982 shares in the company, valued at $3,557,014.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dave Schaeffer sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $54.60, for a total value of $3,276,000.00. Following the transaction, the chief executive officer now directly owns 4,493,038 shares in the company, valued at approximately $245,319,874.80. The disclosure for this sale can be found here. Insiders sold 185,870 shares of company stock valued at $11,124,759 in the last ninety days. Insiders own 11.40% of the company’s stock.

Hedge Funds Weigh In On Cogent Communications

A number of large investors have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Cogent Communications during the first quarter worth $26,000. SRS Capital Advisors Inc. lifted its holdings in Cogent Communications by 313.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the technology company’s stock valued at $38,000 after buying an additional 383 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after buying an additional 441 shares during the period. Hexagon Capital Partners LLC grew its stake in Cogent Communications by 109.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 636 shares of the technology company’s stock worth $48,000 after acquiring an additional 333 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Cogent Communications by 17.2% during the first quarter. Covestor Ltd now owns 1,880 shares of the technology company’s stock worth $123,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Cogent Communications Trading Up 3.7 %

Shares of CCOI stock opened at $72.28 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 2.20 and a current ratio of 2.20. The stock has a fifty day simple moving average of $67.07 and a two-hundred day simple moving average of $64.42. The firm has a market capitalization of $3.54 billion, a PE ratio of 2.86 and a beta of 0.41. Cogent Communications has a 52-week low of $50.80 and a 52-week high of $86.00.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, August 8th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The company had revenue of $260.40 million for the quarter, compared to the consensus estimate of $264.32 million. During the same quarter last year, the company earned ($0.13) EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that Cogent Communications will post -4.66 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.985 per share. The ex-dividend date is Thursday, August 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a yield of 5.45%. Cogent Communications’s dividend payout ratio is 15.61%.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, 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.