Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson Sells 650 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Director Lewis H. Ferguson sold 650 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through the SEC website.

Cogent Communications Price Performance

Shares of NASDAQ CCOI opened at $69.84 on Wednesday. The stock has a fifty day moving average of $64.98 and a 200-day moving average of $64.66. Cogent Communications Holdings, Inc. has a fifty-two week low of $46.75 and a fifty-two week high of $75.00. The stock has a market cap of $3.42 billion, a PE ratio of 2.96 and a beta of 0.45. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.72 and a current ratio of 1.72.

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be issued a $0.945 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $3.78 annualized dividend and a dividend yield of 5.41%. This is a boost from Cogent Communications’s previous quarterly dividend of $0.94. Cogent Communications’s dividend payout ratio is presently 16.00%.

Institutional Trading of Cogent Communications

Large investors have recently modified their holdings of the business. WealthPLAN Partners LLC purchased a new stake in shares of Cogent Communications during the first quarter valued at approximately $71,000. Salvus Wealth Management LLC purchased a new position in Cogent Communications in the 1st quarter worth approximately $596,000. Belpointe Asset Management LLC bought a new position in Cogent Communications in the 4th quarter valued at approximately $44,000. Martingale Asset Management L P boosted its stake in Cogent Communications by 2.5% during the 4th quarter. Martingale Asset Management L P now owns 32,672 shares of the technology company’s stock valued at $1,865,000 after purchasing an additional 803 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Cogent Communications by 12.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 49,771 shares of the technology company’s stock valued at $2,839,000 after purchasing an additional 5,670 shares in the last quarter. Institutional investors own 85.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCOI. JPMorgan Chase & Co. downgraded Cogent Communications from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $70.00 in a report on Monday, May 8th. TD Cowen upgraded Cogent Communications from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Friday, August 11th. The Goldman Sachs Group upgraded Cogent Communications from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $43.00 to $64.00 in a research report on Monday, August 21st. KeyCorp upped their price target on shares of Cogent Communications from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, StockNews.com began coverage on shares of Cogent Communications in a report on Thursday, August 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.10.

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, 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.