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 9th. The stock was sold at an average price of $76.60, for a total value of $147,072.00. Following the completion of the sale, the executive now directly owns 49,542 shares in the company, valued at $3,794,917.20. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 2nd, James Bubeck sold 1,920 shares of Cogent Communications stock. The shares were sold at an average price of $81.42, for a total transaction of $156,326.40.

Cogent Communications Stock Up 0.2 %

NASDAQ CCOI traded up $0.14 during trading on Tuesday, hitting $76.71. The stock had a trading volume of 381,039 shares, compared to its average volume of 439,266. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The company has a market capitalization of $3.76 billion, a PE ratio of 98.33 and a beta of 0.39. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. The company’s 50-day moving average price is $80.94 and its two-hundred day moving average price is $70.49.

Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.01. The firm had revenue of $257.20 million for 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 company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.13) earnings per share. As a group, sell-side analysts forecast that Cogent Communications Holdings, Inc. will post -4.53 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date was Friday, November 22nd. This is an increase from Cogent Communications’s previous quarterly dividend of $0.99. Cogent Communications’s dividend payout ratio (DPR) is currently 510.26%.

Hedge Funds Weigh In On Cogent Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ipswich Investment Management Co. Inc. lifted its position in shares of Cogent Communications by 0.5% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock worth $3,119,000 after purchasing an additional 185 shares during the period. Taylor Frigon Capital Management LLC increased its position in shares of Cogent Communications by 1.1% during the second quarter. Taylor Frigon Capital Management LLC now owns 19,407 shares of the technology company’s stock worth $1,095,000 after acquiring an additional 202 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Cogent Communications by 72.9% in the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock worth $41,000 after purchasing an additional 226 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cogent Communications by 5.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company’s stock valued at $378,000 after purchasing an additional 262 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after buying an additional 272 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CCOI. Bank of America cut Cogent Communications from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Citigroup boosted their price target on shares of Cogent Communications from $70.00 to $82.00 and gave the company a “buy” rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. KeyCorp increased their target price on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group upped their price target on Cogent Communications from $62.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $80.25.

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.