Cogent Communications Holdings Inc (CCOI) CRO Sells $13,432.50 in Stock

Cogent Communications Holdings Inc (NASDAQ:CCOI) CRO James Bubeck sold 250 shares of Cogent Communications stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $53.73, for a total value of $13,432.50. Following the sale, the executive now directly owns 31,122 shares of the company’s stock, valued at approximately $1,672,185.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Friday, March 1st, James Bubeck sold 1,920 shares of Cogent Communications stock. The shares were sold at an average price of $48.99, for a total value of $94,060.80.
  • On Wednesday, January 2nd, James Bubeck sold 250 shares of Cogent Communications stock. The stock was sold at an average price of $44.51, for a total value of $11,127.50.

Shares of Cogent Communications stock traded up $0.10 during trading hours on Friday, hitting $55.27. The company’s stock had a trading volume of 205,370 shares, compared to its average volume of 254,810. Cogent Communications Holdings Inc has a twelve month low of $42.40 and a twelve month high of $57.92. The firm has a market cap of $2.56 billion, a PE ratio of 87.73, a price-to-earnings-growth ratio of 7.96 and a beta of 0.71.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, February 21st. The technology company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). Cogent Communications had a net margin of 5.51% and a negative return on equity of 23.57%. The business had revenue of $132.05 million during the quarter, compared to analyst estimates of $132.63 million. During the same period last year, the company earned ($0.14) EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts expect that Cogent Communications Holdings Inc will post 0.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.58 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, March 7th. This represents a $2.32 annualized dividend and a yield of 4.20%. Cogent Communications’s dividend payout ratio is presently 368.25%.

Several analysts recently commented on CCOI shares. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Monday, January 7th. ValuEngine cut Cogent Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. BidaskClub cut Cogent Communications from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Finally, Royal Bank of Canada upped their target price on Cogent Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.14.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in Cogent Communications during the 1st quarter worth about $501,000. Access Financial Services Inc. acquired a new stake in Cogent Communications in the 1st quarter valued at about $1,448,000. Boston Financial Mangement LLC raised its position in Cogent Communications by 4.6% in the 1st quarter. Boston Financial Mangement LLC now owns 522,308 shares of the technology company’s stock valued at $28,335,000 after purchasing an additional 23,038 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Cogent Communications by 4.2% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,620 shares of the technology company’s stock valued at $2,692,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in Cogent Communications in the 1st quarter valued at about $499,000. 90.45% of the stock is currently owned by hedge funds and other institutional investors.

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About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

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