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Lewis (JO:LEWJ) H. Ferguson, a director at Cogent Communications Holdings, Inc. (NASDAQ:CCOI), recently sold 956 shares of the company’s common stock. The transaction, dated March 12, 2025, was priced at $69.365 per share, resulting in a total sale value of $66,312. Following this sale, Ferguson holds 18,652 shares directly. The sale comes as the stock trades near $67.61, with a market capitalization of $3.2 billion. InvestingPro data shows the company maintains a robust 5.8% dividend yield and has increased its dividend for 13 consecutive years. Cogent Communications, known for its communication services, continues to be a focal point for investors monitoring insider transactions. While the company maintains strong liquidity with a current ratio of 1.9, InvestingPro analysis indicates the stock is currently trading above its Fair Value. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription, covering this and 1,400+ other top US stocks.
In other recent news, Cogent Communications reported its fourth-quarter results, revealing revenue of $252.3 million, which fell short of the consensus estimate of $258.04 million. The company’s revenue decreased by 1.9% from the previous quarter and 7.3% compared to the same period last year. Despite the revenue miss, Cogent reported a loss of $0.91 per share, which was better than analysts’ expectations of a $1.22 loss per share. KeyBanc Capital Markets maintained an Overweight rating on Cogent Communications, with a price target of $91, highlighting potential growth in the company’s wavelength and IPv4 leasing businesses as positive factors.
Additionally, Cogent Communications extended its headquarters lease in Washington, D.C., until May 2030, ensuring its continued presence at the current location. The lease extension was approved by the company’s Audit Committee and filed with the Securities and Exchange Commission. The company has seen growth in its wavelength and IPv4 leasing segments, with wavelength revenue increasing by 31.8% and IPv4 leasing revenue rising by 11.8%. Cogent also announced a dividend increase of $0.01 per share to $1.005 for the first quarter of 2025, marking its fiftieth consecutive quarterly dividend increase.
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