Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO Sells $147,072.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the transaction, the executive now owns 49,542 shares in the company, valued at approximately $3,794,917.20. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, December 2nd, James Bubeck sold 1,920 shares of Cogent Communications stock. The stock was sold at an average price of $81.42, for a total value of $156,326.40.

Cogent Communications Trading Down 1.2 %

Cogent Communications stock opened at $75.43 on Friday. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The company’s fifty day moving average price is $80.98 and its two-hundred day moving average price is $70.69. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 96.71 and a beta of 0.39. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

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

Cogent Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.995 per share. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Friday, November 22nd. Cogent Communications’s dividend payout ratio is currently 510.26%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Salvus Wealth Management LLC grew its position in shares of Cogent Communications by 48.7% in the second quarter. Salvus Wealth Management LLC now owns 29,011 shares of the technology company’s stock valued at $1,637,000 after purchasing an additional 9,504 shares during the last quarter. ARS Investment Partners LLC bought a new position in Cogent Communications in the 2nd quarter worth approximately $621,000. Clear Harbor Asset Management LLC lifted its holdings in shares of Cogent Communications by 144.8% during the second quarter. Clear Harbor Asset Management LLC now owns 15,766 shares of the technology company’s stock worth $890,000 after buying an additional 9,326 shares during the last quarter. waypoint wealth counsel bought a new stake in shares of Cogent Communications in the second quarter valued at approximately $238,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Cogent Communications by 3.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 16,743 shares of the technology company’s stock worth $945,000 after acquiring an additional 614 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CCOI shares. Citigroup increased their price objective on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. KeyCorp raised their price target on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. UBS Group began coverage on shares of Cogent Communications in a research note on Thursday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Finally, The Goldman Sachs Group upped 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cogent Communications presently has an average rating of “Hold” and a consensus target price 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.