Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO Sells 1,920 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.42, for a total transaction of $156,326.40. Following the completion of the sale, the executive now directly owns 51,462 shares in the company, valued at $4,190,036.04. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

James Bubeck also recently made the following trade(s):

• On Wednesday, September 4th, James Bubeck sold 1,920 shares of Cogent Communications stock. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40.

Cogent Communications Stock Down 1.5 %

CCOI opened at $78.72 on Friday. The business has a 50 day moving average price of $80.81 and a two-hundred day moving average price of $70.02. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The company has a market cap of $3.86 billion, a PE ratio of 100.92 and a beta of 0.39. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, topping the consensus estimate of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company had revenue of $257.20 million during the quarter, compared to analysts’ expectations of $258.69 million. During the same quarter last year, the business earned ($1.13) EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.53 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.995 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 22nd. This represents a $3.98 annualized dividend and a yield of 5.06%. Cogent Communications’s payout ratio is presently 510.26%.

Institutional Trading of Cogent Communications

Several hedge funds have recently modified their holdings of CCOI. Itau Unibanco Holding S.A. purchased a new position in Cogent Communications in the third quarter worth $30,000. Blue Trust Inc. grew its stake in shares of Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after purchasing an additional 272 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Cogent Communications by 72.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares during the period. Finally, Quest Partners LLC purchased a new stake in Cogent Communications during the third quarter worth about $46,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CCOI shares. JPMorgan Chase & Co. raised their price target on Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. TD Cowen raised their target price on Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a report on Friday, August 9th. The Goldman Sachs Group boosted their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. UBS Group assumed coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They issued a “buy” rating and a $102.00 price objective for the company. Finally, KeyCorp upped their target price on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $80.25.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.