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Henry W. Kilmer, Vice President of Network Strategy at Cogent Communications Holdings, Inc. (NASDAQ:CCOI), recently sold 2,400 shares of the company’s common stock. The shares were sold at a price of $72.57 each, amounting to a total transaction value of $174,167. Following this sale, Kilmer retains ownership of 41,000 shares in the company. This transaction was reported in a recent SEC filing.According to InvestingPro data, CCOI’s stock has underperformed recently, with a -7.11% YTD return. The company maintains a strong dividend track record, having raised dividends for 13 consecutive years, though it currently trades above its Fair Value. For deeper insights into CCOI’s valuation and 10+ additional ProTips, including exclusive financial health metrics, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Cogent Communications reported fourth-quarter results that did not meet analyst expectations, with revenue totaling $252.3 million, below the consensus estimate of $258.04 million. Despite this, the company reported a loss of $0.91 per share, which was better than the anticipated loss of $1.22 per share. Revenue decreased by 1.9% from the previous quarter and 7.3% year-over-year. Cogent’s on-net revenue dropped 5.7% sequentially, while off-net revenue saw a modest increase of 1.7%. The company experienced significant growth in its wavelength and IPv4 leasing businesses, with wavelength revenue jumping 31.8% and IPv4 leasing revenue rising 11.8%.
In related developments, KeyBanc Capital Markets maintained an Overweight rating on Cogent Communications, with a price target of $91, citing potential growth catalysts such as developments in Wavelengths and IPv4. KeyBanc analyst Brandon Nispel expressed confidence in the company’s capacity to secure capital through its IPv4 asset-backed securities facility. Additionally, Cogent approved a dividend increase of $0.01 per share to $1.005 for the first quarter of 2025.
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