Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck Sells 1,920 Shares

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 transaction, the executive now owns 51,462 shares of the company’s stock, valued at $4,190,036.04. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Cogent Communications Trading Down 3.2 %

NASDAQ:CCOI opened at $80.61 on Wednesday. The firm’s fifty day moving average is $80.54 and its 200-day moving average is $69.80. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The firm has a market cap of $3.95 billion, a P/E ratio of 103.35 and a beta of 0.39.

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

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.94%. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 22nd. Cogent Communications’s dividend payout ratio (DPR) is 510.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Citigroup upped their price objective on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. KeyCorp upped their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Bank of America cut shares of Cogent Communications from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $75.00 to $65.00 in a research report on Wednesday, August 21st. Finally, TD Cowen upped their price target on shares of Cogent Communications from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cogent Communications currently has a consensus rating of “Hold” and an average price target of $80.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ipswich Investment Management Co. Inc. lifted its stake in shares of Cogent Communications by 0.5% in the third quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock valued at $3,119,000 after buying an additional 185 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in shares of Cogent Communications by 1.1% in the second quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock valued at $1,095,000 after purchasing an additional 202 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Cogent Communications by 72.9% in the third 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 during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Cogent Communications by 5.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock valued at $378,000 after purchasing an additional 262 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after purchasing an additional 272 shares during the last quarter. 92.45% of the stock is owned by institutional investors.

Cogent Communications Company Profile

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.