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Thaddeus Weed, Vice President and CFO of Cogent Communications Holdings, Inc. (NASDAQ:CCOI), recently sold 4,900 shares of the company’s common stock. The shares were sold at a price of $72.0632 each, amounting to a total transaction value of $353,109. The transaction comes as the stock has experienced a notable 10% decline over the past week, according to InvestingPro data. Following this sale, Weed holds 103,000 shares directly. This transaction was filed with the Securities and Exchange Commission, providing investors with insight into the executive’s current holdings in the company. The sale occurs against a backdrop of mixed signals: while Cogent maintains a 13-year streak of dividend increases, InvestingPro analysis indicates the company is trading above its Fair Value, with current metrics showing high EBITDA and revenue multiples. For deeper insights into Cogent’s valuation and 10+ additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Cogent Communications reported fourth-quarter revenue of $252.3 million, falling short of analyst expectations, which were set at $258.04 million. This represents a 1.9% decrease from the previous quarter and a 7.3% decline year-over-year. The company reported a loss of $0.91 per share, which was better than the anticipated loss of $1.22 per share. Despite these challenges, Cogent saw significant growth in its wavelength and IPv4 leasing businesses, with wavelength revenue increasing by 31.8% and IPv4 address leasing revenue rising by 11.8%. Additionally, Cogent approved a dividend increase of $0.01 per share to $1.005 for the first quarter of 2025, marking its fiftieth consecutive quarterly dividend increase.
Meanwhile, KeyBanc Capital Markets maintained an Overweight rating on Cogent Communications, with a price target of $91.00. Analyst Brandon Nispel suggested that despite mixed results, the current situation offers a buying opportunity for investors. KeyBanc highlighted the company’s EBITDA margin strength and potential growth in revenue following the decline of non-core products. Nispel also noted that Cogent’s cash flow is expected to increase, driven by growth in its wavelength and IPv4 segments.
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