Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck Sells 2,000 Shares

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive now owns 57,142 shares in the company, valued at $4,095,367.14. This represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Down 1.5 %

NASDAQ:CCOI opened at $70.19 on Thursday. The company has a market capitalization of $3.44 billion, a PE ratio of 89.99 and a beta of 0.40. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The stock has a fifty day simple moving average of $76.47 and a 200-day simple moving average of $77.09.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $1.005 per share. This represents a $4.02 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Thursday, March 13th. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. Cogent Communications’s payout ratio is -93.49%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ulysses Management LLC raised its stake in Cogent Communications by 9.6% in the 4th quarter. Ulysses Management LLC now owns 372,166 shares of the technology company’s stock valued at $28,683,000 after purchasing an additional 32,596 shares during the last quarter. Turtle Creek Asset Management Inc. acquired a new position in Cogent Communications in the 4th quarter valued at about $9,649,000. Tyro Capital Management LLC raised its stake in Cogent Communications by 20.1% in the 4th quarter. Tyro Capital Management LLC now owns 420,825 shares of the technology company’s stock valued at $32,433,000 after purchasing an additional 70,521 shares during the last quarter. Shellback Capital LP acquired a new position in Cogent Communications in the 4th quarter valued at about $9,255,000. Finally, SG Capital Management LLC raised its stake in Cogent Communications by 105.2% in the 4th quarter. SG Capital Management LLC now owns 201,916 shares of the technology company’s stock valued at $15,562,000 after purchasing an additional 103,498 shares during the last quarter. Institutional investors and hedge funds 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.