Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Gerard Weed Sells 4,850 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOIGet Rating) CFO Thaddeus Gerard Weed sold 4,850 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $64.30, for a total value of $311,855.00. Following the completion of the sale, the chief financial officer now directly owns 73,250 shares of the company’s stock, valued at approximately $4,709,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cogent Communications Trading Down 0.2 %

NASDAQ CCOI opened at $63.96 on Tuesday. The company has a market capitalization of $3.09 billion, a PE ratio of 581.45, a price-to-earnings-growth ratio of 1.97 and a beta of 0.44. The business’s 50-day moving average price is $64.64 and its 200 day moving average price is $58.03. Cogent Communications Holdings, Inc. has a twelve month low of $46.75 and a twelve month high of $72.21.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a $0.925 dividend. This represents a $3.70 dividend on an annualized basis and a yield of 5.78%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, March 9th. Cogent Communications’s payout ratio is presently 3,363.64%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCOI. Royal Bank of Canada cut their price target on Cogent Communications from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Tuesday, November 15th. KeyCorp increased their price target on shares of Cogent Communications from $64.00 to $71.00 in a research report on Tuesday, January 17th. William Blair reaffirmed an “outperform” rating on shares of Cogent Communications in a research note on Thursday, February 23rd. Credit Suisse Group raised their price target on Cogent Communications from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Finally, The Goldman Sachs Group decreased their price objective on Cogent Communications from $49.00 to $43.00 and set a “sell” rating on the stock in a research note on Monday, November 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to, the company currently has an average rating of “Hold” and a consensus target price of $64.13.

Hedge Funds Weigh In On Cogent Communications

Large investors have recently bought and sold shares of the stock. Fortis Capital Advisors LLC acquired a new stake in shares of Cogent Communications during the 4th quarter worth $28,000. CWM LLC increased its stake in Cogent Communications by 862.5% during the third quarter. CWM LLC now owns 616 shares of the technology company’s stock worth $32,000 after acquiring an additional 552 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Cogent Communications in the 3rd quarter worth about $35,000. Quadrant Capital Group LLC lifted its stake in shares of Cogent Communications by 123.3% in the 4th 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 in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Cogent Communications by 50.8% during the 3rd quarter. Signaturefd LLC now owns 742 shares of the technology company’s stock worth $39,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.

About Cogent Communications

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Cogent Communications Holdings, Inc engages in the provision of Internet access and Internet Protocol (IP) communications solutions. It offers Internet access and data transport through its fiber optic, IP data-only network, ethernet transport, and colocation services. The company was founded by David Schaeffer in August 1999 and is headquartered in Washington, DC.

Further Reading

Insider Buying and Selling by Quarter for Cogent Communications (NASDAQ:CCOI)

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