Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO Sells $143,340.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 2,000 shares of Cogent Communications stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $71.67, for a total value of $143,340.00. Following the completion of the sale, the executive now owns 57,142 shares of the company’s stock, valued at $4,095,367.14. This trade represents a 3.38 % decrease in their position. The transaction was disclosed in a document filed 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 value of $147,072.00.

Cogent Communications Stock Performance

Cogent Communications stock opened at $70.19 on Thursday. The stock’s 50 day moving average price is $76.47 and its 200 day moving average price is $77.09. Cogent Communications Holdings, Inc. has a one year low of $50.80 and a one year high of $86.76. The firm has a market capitalization of $3.44 billion, a PE ratio of 89.99 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.31. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. As a group, sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.55 EPS 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. Investors of record on Thursday, March 13th will be given a dividend of $1.005 per share. This is a positive change from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend is Thursday, March 13th. Cogent Communications’s dividend payout ratio is currently -93.49%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Ulysses Management LLC grew its stake in Cogent Communications by 9.6% during the 4th quarter. Ulysses Management LLC now owns 372,166 shares of the technology company’s stock worth $28,683,000 after buying an additional 32,596 shares during the last quarter. Turtle Creek Asset Management Inc. bought a new position in shares of Cogent Communications in the fourth quarter worth $9,649,000. Tyro Capital Management LLC grew its stake in shares of Cogent Communications by 20.1% in the fourth quarter. Tyro Capital Management LLC now owns 420,825 shares of the technology company’s stock worth $32,433,000 after purchasing an additional 70,521 shares in the last quarter. Shellback Capital LP bought a new position in shares of Cogent Communications in the fourth quarter worth $9,255,000. Finally, SG Capital Management LLC boosted its stake in Cogent Communications by 105.2% during the fourth quarter. SG Capital Management LLC now owns 201,916 shares of the technology company’s stock valued at $15,562,000 after buying an additional 103,498 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com upgraded Cogent Communications to a “sell” rating in a report on Monday. UBS Group assumed coverage on Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $80.25.

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.