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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CFO Thaddeus Weed sold 4,850 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $9.37, for a total value of $45,444.50. Following the sale, the chief financial officer owned 193,050 shares of the company’s stock, valued at approximately $1,808,878.50. The trade was a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Thaddeus Gerard Weed also recently made the following trade(s):

• On Tuesday, June 16th, Thaddeus Weed sold 4,850 shares of Cogent Communications stock. The stock was sold at an average price of $16.79, for a total value of $81,431.50.

Cogent Communications Price Performance

NASDAQ CCOI opened at $9.98 on Friday. The firm has a market capitalization of $511.18 million, a P/E ratio of -10.40 and a beta of 0.77. Cogent Communications Holdings, Inc. has a 1-year low of $8.88 and a 1-year high of $45.69. The business’s 50-day simple moving average is $11.62 and its 200-day simple moving average is $16.59.

Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, August 6th. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $2.38. Cogent Communications had a negative return on equity of 842.48% and a negative net margin of 4.73%.The business had revenue of $235.56 million during the quarter, compared to analysts’ expectations of $239.55 million. During the same quarter in the previous year, the business earned ($1.21) EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts expect that Cogent Communications Holdings, Inc. will post -3.01 EPS for the current fiscal year.

Cogent Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.08 annualized dividend and a dividend yield of 0.8%. Cogent Communications’s dividend payout ratio is presently -8.33%.

Key Stories Impacting Cogent Communications

Here are the key news stories impacting Cogent Communications this week:

• Positive Sentiment: Potential investor recovery: Multiple law firms said investors who purchased CCOI shares between February 29, 2024, and May 1, 2026, may seek appointment as lead plaintiff in the securities class action by September 21, 2026. Any recovery would depend on the outcome of the litigation. Robbins Geller CCOI class action notice
• Neutral Sentiment: Some favorable stock screening: Zacks included Cogent among five stocks with rising price-to-earnings ratios, presenting CCOI as a speculative idea for investors seeking improving valuation momentum. The item does not identify a specific operating catalyst or earnings upgrade. Zacks rising P/E stocks
• Negative Sentiment: Broad securities-fraud litigation campaign: Several firms publicized an already-filed class action alleging Cogent and certain executives made misleading disclosures about optical-wavelength demand and backlog conversion, as well as margin-loan, dividend and pledged-share foreclosure risks. The allegations include claims that backlog was unlikely to convert into paying revenue and contributed to an approximately 29% stock decline. The case creates potential legal costs, reputational damage and uncertainty around Cogent’s disclosures; the allegations have not been proven. Hagens Berman Cogent securities fraud notice
• Negative Sentiment: CFO insider sale: CFO Thaddeus Gerard Weed sold 4,850 shares for approximately $45,445, reducing his position by 2.45%. Although relatively small compared with his remaining holdings, the sale may weigh on sentiment amid the litigation headlines. Cogent CFO SEC Form 4 filing

Institutional Investors Weigh In On Cogent Communications

A number of large investors have recently added to or reduced their stakes in CCOI. Public Employees Retirement System of Ohio acquired a new position in Cogent Communications in the 2nd quarter worth $26,000. Parallel Advisors LLC grew its stake in shares of Cogent Communications by 208.6% during the first quarter. Parallel Advisors LLC now owns 1,432 shares of the technology company’s stock valued at $27,000 after acquiring an additional 968 shares in the last quarter. Quarry LP acquired a new stake in shares of Cogent Communications during the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cogent Communications during the fourth quarter worth about $28,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Cogent Communications by 313.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,486 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,127 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen lowered their price target on Cogent Communications from $34.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 7th. JPMorgan Chase & Co. restated an “underweight” rating and set a $9.00 price objective (down from $22.00) on shares of Cogent Communications in a research note on Wednesday, August 19th. Royal Bank Of Canada decreased their target price on Cogent Communications from $18.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, August 13th. Wall Street Zen upgraded Cogent Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Citigroup dropped their target price on Cogent Communications from $20.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.55.

About Cogent Communications

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.