Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) CRO James Bubeck sold 1,920 shares of the business's stock in a transaction 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 sale, the executive now directly owns 49,542 shares in the company, valued at approximately $3,794,917.20. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
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 transaction of $156,326.40.
Cogent Communications Price Performance
Shares of NASDAQ CCOI opened at $76.71 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm's 50-day moving average price is $80.97 and its 200-day moving average price is $70.62. The firm has a market capitalization of $3.76 billion, a P/E ratio of 98.35 and a beta of 0.39. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76.
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Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted 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. The company had revenue of $257.20 million during the quarter, compared to the consensus estimate of $258.69 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.13) earnings per share. Equities research analysts anticipate that Cogent Communications Holdings, Inc. will post -4.53 earnings per share for the current fiscal year.
Cogent Communications Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.995 per share. The ex-dividend date was Friday, November 22nd. 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 5.19%. Cogent Communications's payout ratio is presently 510.26%.
Institutional Investors Weigh In On Cogent Communications
Institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in Cogent Communications in the 3rd quarter worth about $30,000. Blue Trust Inc. grew its position 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 valued at $31,000 after acquiring an additional 272 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock valued at $41,000 after acquiring an additional 226 shares during the period. Quest Partners LLC bought a new position in shares of Cogent Communications during the 3rd quarter valued at approximately $46,000. Finally, GAMMA Investing LLC grew its position in shares of Cogent Communications by 207.0% during the 3rd quarter. GAMMA Investing LLC now owns 660 shares of the technology company's stock valued at $50,000 after acquiring an additional 445 shares during the period. 92.45% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
CCOI has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, August 19th. KeyCorp lifted 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 cut their price target for the stock from $75.00 to $65.00 in a report on Wednesday, August 21st. The Goldman Sachs Group lifted their price target on shares of Cogent Communications from $62.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, October 4th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $80.25.
Check Out Our Latest Stock Report on CCOI
About Cogent Communications
(
Get Free Report)
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.
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