Cogent Communications (CCOI) reported second-quarter 2026 service revenue of $235.6 million, down 1.5% from Q1 2026 and down 4.3% from Q2 2025. Net income was $66.6 million, with basic EPS of $1.39 and diluted EPS of $1.38.
The company said it sold ten owned data centers for net proceeds of $224.2 million, resulting in a $130.7 million gain in the quarter. Cogent also approved a regular quarterly dividend of $0.02 per share.
- Service revenue was $235.6 million for Q2 2026, compared with $239.2 million for Q1 2026.
- GAAP gross profit was $57.6 million and GAAP gross margin was 24.5%.
- EBITDA was $46.1 million, while adjusted EBITDA was $71.1 million.
- Total customer connections were 115,839 as of June 30, 2026.
- Total cash and restricted cash at quarter-end was $369.7 million.
- Cogent purchased $20.4 million par value of its 2032 secured notes during Q2 2026.
$CCOI Insider Trading Activity
$CCOI insiders have traded $CCOI stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $CCOI stock by insiders over the last 6 months:
- THADDEUS GERARD WEED (VICE PRESIDENT, CFO) has made 0 purchases and 2 sales selling 9,700 shares for an estimated $191,189.
- SHERYL LYNN KENNEDY has made 0 purchases and 2 sales selling 6,600 shares for an estimated $129,385.
- LEWIS H FERGUSON has made 0 purchases and 2 sales selling 5,006 shares for an estimated $107,812.
- HENRY W KILMER (VP OF NETWORK STRATEGY) has made 0 purchases and 2 sales selling 4,800 shares for an estimated $96,864.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$CCOI Hedge Fund Activity
We have seen 101 institutional investors add shares of $CCOI stock to their portfolio, and 125 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FIRST TRUST ADVISORS LP removed 1,177,398 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $22,182,178
- BANK OF AMERICA CORP /DE/ removed 899,068 shares (-74.8%) from their portfolio in Q1 2026, for an estimated $16,938,441
- MORGAN STANLEY added 630,621 shares (+50.4%) to their portfolio in Q1 2026, for an estimated $11,880,899
- PARK WEST ASSET MANAGEMENT LLC added 526,105 shares (+37.3%) to their portfolio in Q1 2026, for an estimated $9,911,818
- DIGITALBRIDGE GROUP, INC. added 506,783 shares (+79.7%) to their portfolio in Q1 2026, for an estimated $9,547,791
- ROYAL BANK OF CANADA removed 493,519 shares (-98.9%) from their portfolio in Q1 2026, for an estimated $9,297,897
- HRT FINANCIAL LP added 459,925 shares (+935.4%) to their portfolio in Q1 2026, for an estimated $8,664,987
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
