Insider Selling: Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO Sells 2,000 Shares of Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 2,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total transaction of $143,340.00. Following the transaction, the executive now owns 57,142 shares of the company’s stock, valued at $4,095,367.14. This trade represents a 3.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 9th, James Bubeck sold 1,920 shares of Cogent Communications stock. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00.

Cogent Communications Trading Up 0.2 %

Shares of CCOI traded up $0.14 during mid-day trading on Wednesday, reaching $71.40. The company had a trading volume of 110,294 shares, compared to its average volume of 358,425. The firm has a fifty day simple moving average of $76.47 and a 200-day simple moving average of $77.09. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 91.72 and a beta of 0.40. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The business had revenue of $252.29 million for the quarter, compared to analysts’ expectations of $258.49 million. On average, sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current fiscal year.

Cogent Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a yield of 5.63%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 13th. Cogent Communications’s payout ratio is presently -93.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCOI. StockNews.com upgraded shares of Cogent Communications to a “sell” rating in a research note on Monday. UBS Group assumed coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.25.

Institutional Investors Weigh In On Cogent Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its holdings in Cogent Communications by 0.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 52,679 shares of the technology company’s stock valued at $4,055,000 after acquiring an additional 156 shares in the last quarter. Ipswich Investment Management Co. Inc. boosted its holdings in shares of Cogent Communications by 0.5% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock worth $3,119,000 after acquiring an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Cogent Communications by 4.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,196 shares of the technology company’s stock worth $400,000 after purchasing an additional 212 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Cogent Communications by 53.8% during the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Cogent Communications by 0.6% in the 4th quarter. Royce & Associates LP now owns 33,883 shares of the technology company’s stock valued at $2,611,000 after buying an additional 218 shares during the period. Institutional investors own 92.45% of the company’s stock.

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.