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 company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $47.50, for a total value of $95,000.00. Following the completion of the sale, the executive now owns 55,142 shares of the company’s stock, valued at $2,619,245. This represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cogent Communications Trading Up 0.9%

Shares of NASDAQ:CCOI opened at $47.84 on Friday. The business’s 50-day moving average is $51.42 and its 200 day moving average is $67.00. Cogent Communications Holdings, Inc. has a 1 year low of $43.65 and a 1 year high of $86.76. The firm has a market capitalization of $2.36 billion, a P/E ratio of 61.33 and a beta of 0.72. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.04). Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The firm had revenue of $247.05 million during the quarter, compared to analysts’ expectations of $250.81 million. During the same quarter in the previous year, the business earned ($1.38) earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Thursday, May 22nd were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 8.44%. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Thursday, May 22nd. Cogent Communications’s dividend payout ratio (DPR) is -100.75%.

Institutional Trading of Cogent Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Cogent Communications by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock valued at $394,182,000 after purchasing an additional 43,523 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cogent Communications by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,344 shares of the technology company’s stock worth $39,255,000 after buying an additional 11,858 shares in the last quarter. Alliancebernstein L.P. lifted its position in Cogent Communications by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 52,770 shares of the technology company’s stock worth $4,067,000 after buying an additional 327 shares in the last quarter. Norges Bank purchased a new stake in Cogent Communications in the fourth quarter valued at $4,994,000. Finally, Principal Financial Group Inc. raised its position in Cogent Communications by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 206,196 shares of the technology company’s stock valued at $15,892,000 after purchasing an additional 6,235 shares during the period. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group lowered their target price on Cogent Communications from $102.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 9th. The Goldman Sachs Group decreased their price objective on Cogent Communications from $71.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.75.

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.