Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO Sells $133,958.40 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $69.77, for a total transaction of $133,958.40. Following the completion of the sale, the executive now owns 50,982 shares of the company’s stock, valued at $3,557,014.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cogent Communications Trading Up 1.2 %

Shares of NASDAQ:CCOI opened at $73.18 on Friday. The stock has a 50 day moving average of $67.41 and a 200 day moving average of $64.31. The company has a market cap of $3.59 billion, a PE ratio of 2.90 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.00. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.59. The business had revenue of $260.40 million during the quarter, compared to analyst estimates of $264.32 million. Cogent Communications had a net margin of 4.26% and a negative return on equity of 32.14%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. As a group, equities research analysts expect that Cogent Communications Holdings, Inc. will post -4.66 EPS for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a $0.985 dividend. This represents a $3.94 annualized dividend and a dividend yield of 5.38%. This is an increase from Cogent Communications’s previous quarterly dividend of $0.98. The ex-dividend date was Thursday, August 22nd. Cogent Communications’s payout ratio is presently 15.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup lifted their price objective on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 target price on shares of Cogent Communications in a report on Tuesday, September 3rd. Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and cut their price target for the company from $75.00 to $65.00 in a research note on Wednesday, August 21st. Finally, KeyCorp increased their price objective on shares of Cogent Communications from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.86.

Institutional Trading of Cogent Communications

Institutional investors have recently made changes to their positions in the business. Truist Financial Corp lifted its holdings in Cogent Communications by 5.9% in the 4th quarter. Truist Financial Corp now owns 4,221 shares of the technology company’s stock worth $321,000 after purchasing an additional 237 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Cogent Communications during the fourth quarter valued at approximately $413,000. Axxcess Wealth Management LLC lifted its holdings in shares of Cogent Communications by 8.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,697 shares of the technology company’s stock worth $661,000 after buying an additional 685 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Cogent Communications by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,769 shares of the technology company’s stock worth $34,514,000 after acquiring an additional 4,413 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its stake in Cogent Communications by 16.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 482,532 shares of the technology company’s stock valued at $36,701,000 after acquiring an additional 67,201 shares in the last quarter. Hedge funds and other institutional investors 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.