CCOI Cogent Communications Holdings, Inc.

neutral track record → $24.39 +0.76 (+3.2%)
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Mkt Cap $1B 52wk $15.96 - $56.89 Earnings 2026-05-04 42d ago
Insider selling: $156,527,985 sold by 15 insiders (30d)
Est. revisions: -11.2%
Backed by structured data (insider trades, analyst ratings, or filings)
Factor Model (net -1.3)

Factor Model

net -1.3 2.9 / 10
Est. Revisions
-0.6
Insider Activity
+0.0
Momentum
+0.0
Analyst Rev.
+0.0
Narrative Gap
+0.0

AI boom could push CCOI traffic growth toward 23% trend

Watch: June 2026 refinance: whether Cogent secures the $750 million replacement at reasonable terms or faces secured-debt penalty that clips margin gains and forces asset liquidation.

CEO Dave Schaeffer argues AI workloads could reignite internet traffic growth above the current 10% baseline toward the historical 23% annual compound rate, a thesis that would benefit Cogent's wavelengths business. The company competes 50% below market pricing and targets 6-8% annual revenue growth with 200 basis points of EBITDA margin expansion. Wavelengths revenue doubled year-over-year to hit 4% of total revenue by leveraging repurposed Sprint assets, though the portfolio shift remains early and execution-dependent.

If AI adoption translates to traffic inflection, Cogent's low-cost backbone and growing high-margin wavelengths segment could capture disproportionate volume—but only if the June 2026 refinance doesn't force deleveraging constraints that starve capex or trigger asset sales at depressed values.

Evidence

Fundamentals & Data ▾
Cogent Communications Holdings, Inc. Communication Services · Telecom Services
Mkt Cap
$1B
Beta
0.74
Div Yield
874.00%
52w Range
$15.96 - $56.89
Short Interest
5.8M 16.3%
Days to Cover
5.0 -21%
Technicals downtrend
from 52w Hi
0.0%
1w return
+14.1%
Insiders
selling 0B / 5S
EPS Estimate
$-1.07 -11.2% 30d 0up / 0dn
Est. Dispersion
48% 3 analysts
Analyst Target
$26 $17 - $43
Options P/C
1.81
Insider Cluster
strong sell 0B / 9S
Fund Convergence
strong Citadel, Renaissance, Bridgewater
Financials
Revenue
$241M -5% YoY
FCF
$-43M
Gross Margin
47%
Op Margin
-5%
Momentum: accelerating
Top Holders
Citadel $10M
Renaissance $2M
Bridgewater
Recent Filings & Data
insider trade 146
net selling · $156,527,985 sold
15 insiders · 146 transactions (30d)
Recent transactions
SCHAEFFER DAVID · other
BROOKS STEVEN D · award
FERGUSON LEWIS H III · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
MONTAGNER MARC · award
KILMER HENRY WORTHINGTON · sell · $56,040
WEED THADDEUS GERARD · sell · $109,756
FERGUSON LEWIS H III · sell · $50,804
KENNEDY SHERYL LYNN · sell · $75,867
SCHAEFFER DAVID · award
SCHAEFFER DAVID · other
BROOKS STEVEN D · award
WEED THADDEUS GERARD · award
FERGUSON LEWIS H III · award
CHANG JOHN B · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
HARRIS MARK ANDREW · award
MONTAGNER MARC · award
KILMER HENRY WORTHINGTON · award
WEED THADDEUS GERARD · sell · $175,127
KILMER HENRY WORTHINGTON · sell · $94,992
FERGUSON LEWIS H III · sell · $81,341
WEED THADDEUS GERARD · award
CHANG JOHN B · award
KILMER HENRY WORTHINGTON · sell · $46,728
KENNEDY SHERYL LYNN · sell · $51,221
BROOKS STEVEN D · award
FERGUSON LEWIS H III · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
MONTAGNER MARC · award
KILMER HENRY WORTHINGTON · sell · $88,776
WEED THADDEUS GERARD · sell · $181,202
HARRIS MARK ANDREW · award
KENNEDY SHERYL LYNN · sell · $72,700
SCHAEFFER DAVID · sell · $22,519,998
SCHAEFFER DAVID · sell · $60,005,809
BROOKS STEVEN D · award
FERGUSON LEWIS H III · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
MONTAGNER MARC · award
SCHAEFFER DAVID · sell · $3,297,609
SCHAEFFER DAVID · sell · $2,607,204
SCHAEFFER DAVID · sell · $2,632,372
SCHAEFFER DAVID · sell · $2,668,135
SCHAEFFER DAVID · sell · $2,677,490
WEED THADDEUS GERARD · sell · $235,396
SCHAEFFER DAVID · sell · $2,675,346
SCHAEFFER DAVID · sell · $3,822,124
KILMER HENRY WORTHINGTON · sell · $115,080
SCHAEFFER DAVID · sell · $3,547,316
SCHAEFFER DAVID · sell · $3,581,982
BUBECK JAMES R. · sell · $94,999
SCHAEFFER DAVID · sell · $3,052,867
SCHAEFFER DAVID · sell · $3,011,140
CHANG JOHN B · other
SCHAEFFER DAVID · sell · $1,147,425
SCHAEFFER DAVID · sell · $1,172,592
WEED THADDEUS GERARD · sell · $4,766
SCHAEFFER DAVID · sell · $948,174
FERGUSON LEWIS H III · sell · $52,327
SCHAEFFER DAVID · sell · $973,322
SCHAEFFER DAVID · sell · $1,173,318
SCHAEFFER DAVID · sell · $1,156,768
SCHAEFFER DAVID · sell · $1,872,248
SCHAEFFER DAVID · sell · $749,348
SCHAEFFER DAVID · sell · $764,925
WEED THADDEUS GERARD · sell · $5,041
WEED THADDEUS GERARD · sell · $5,059
SCHAEFFER DAVID · sell · $2,015,036
SCHAEFFER DAVID · sell · $1,519,140
SCHAEFFER DAVID · sell · $2,720,231
CHANG JOHN B · other
KENNEDY SHERYL LYNN · sell · $72,773
BROOKS STEVEN D · award
BATH DAVID BLAKE · award
FERGUSON LEWIS H III · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
MONTAGNER MARC · award
FERGUSON LEWIS H III · sell · $66,313
CHANG JOHN B · other
KILMER HENRY WORTHINGTON · sell · $174,168
CHANG JOHN B · other
SCHAEFFER DAVID · sell · $4,305,978
BUBECK JAMES R. · sell · $143,348
WEED THADDEUS GERARD · sell · $353,110
KENNEDY SHERYL LYNN · sell · $103,967
BROOKS STEVEN D · other
SCHAEFFER DAVID · award
WEED THADDEUS GERARD · award
CHANG JOHN B · award
BUBECK JAMES R. · award
BROOKS STEVEN D · award
BATH DAVID BLAKE · award
FERGUSON LEWIS H III · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
MONTAGNER MARC · award
CHANG JOHN B · other
KILMER HENRY WORTHINGTON · sell · $362,942
BUBECK JAMES R. · sell · $147,065
CHANG JOHN B · other
WEED THADDEUS GERARD · sell · $391,584
BUBECK JAMES R. · sell · $156,329
KILMER HENRY WORTHINGTON · sell · $197,256
KILMER HENRY WORTHINGTON · award
BUBECK JAMES R. · award
SCHAEFFER DAVID · sell · $4,999,480
BATH DAVID BLAKE · sell · $520,565
FERGUSON LEWIS H III · sell · $69,171
CHANG JOHN B · sell · $183,328
KENNEDY SHERYL LYNN · sell · $108,777
HOWARD EVE N · sell · $287,070
BROOKS STEVEN D · award
FERGUSON LEWIS H III · award
LIEBHABER & ASSOCIATES · award
KENNEDY SHERYL LYNN · award
DE SA PAUL · award
HOWELL DENEEN C · award
HOWARD EVE N · award
MONTAGNER MARC · award
CHANG JOHN B · sell · $100,338
SCHAEFFER DAVID · sell · $4,663,555
KENNEDY SHERYL LYNN · sell · $110,139
KILMER HENRY WORTHINGTON · sell · $166,824
BUBECK JAMES R. · sell · $133,958
WEED THADDEUS GERARD · sell · $167,222
SCHAEFFER DAVID · sell · $4,368,960
CHANG JOHN B · sell · $152,070
FERGUSON LEWIS H III · sell · $112,554
8 signals · latest 7d ago

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