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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 1,920 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $81.42, for a total value of $156,326.40. Following the completion of the sale, the executive now owns 51,462 shares in the company, valued at approximately $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 available at 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 value of $133,958.40.

Cogent Communications Stock Performance

Shares of CCOI traded down $2.68 during mid-day trading on Tuesday, reaching $80.61. 829,919 shares of the company’s stock were exchanged, compared to its average volume of 440,366. The business’s fifty day simple moving average is $80.54 and its 200-day simple moving average is $69.80. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $3.95 billion, a PE ratio of 103.35 and a beta of 0.39. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data 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 firm had revenue of $257.20 million during the quarter, compared to analysts’ expectations of $258.69 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. Cogent Communications’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.13) earnings per share. On average, equities research 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be 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 yield of 4.94%. The ex-dividend date of this dividend is Friday, November 22nd. Cogent Communications’s dividend payout ratio (DPR) is 510.26%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CCOI shares. Bank of America lowered shares of Cogent Communications from a “neutral” rating to an “underperform” rating and cut their target price for the stock 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. KeyCorp lifted their price target on Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. The Goldman Sachs Group increased their price objective on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Citigroup boosted their target price on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Two research 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’s stock. Based on data from MarketBeat, Cogent Communications has a consensus rating of “Hold” and an average price target of $80.25.

Institutional Trading of Cogent Communications

Several large investors have recently modified their holdings of CCOI. Thrivent Financial for Lutherans raised its holdings in shares of Cogent Communications by 2,739.1% in the second quarter. Thrivent Financial for Lutherans now owns 1,035,261 shares of the technology company’s stock worth $58,430,000 after acquiring an additional 998,796 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Cogent Communications by 46.2% during the second quarter. EdgePoint Investment Group Inc. now owns 1,537,196 shares of the technology company’s stock worth $86,759,000 after buying an additional 485,628 shares during the period. Hood River Capital Management LLC increased its position in Cogent Communications by 18.9% during the second quarter. Hood River Capital Management LLC now owns 874,174 shares of the technology company’s stock worth $49,338,000 after purchasing an additional 138,680 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new position in Cogent Communications in the second quarter valued at $6,372,000. Finally, Verition Fund Management LLC grew its holdings in shares of Cogent Communications by 136.5% during the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock worth $11,025,000 after purchasing an additional 83,816 shares during the period. 92.45% of the stock is currently owned by institutional investors and hedge funds.

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.