James Bubeck Sells 2,000 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock

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

Cogent Communications Stock Performance

Shares of Cogent Communications stock opened at $71.59 on Friday. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $76.24 and a 200 day simple moving average of $77.00. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The firm has a market cap of $3.53 billion, a P/E ratio of 91.78 and a beta of 0.45.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, February 27th. The technology company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million during the quarter, compared to analysts’ expectations of $258.49 million. Sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $1.005 per share. The ex-dividend date is Thursday, March 13th. This is an increase from Cogent Communications’s previous quarterly dividend of $1.00. This represents a $4.02 dividend on an annualized basis and a yield of 5.62%. Cogent Communications’s dividend payout ratio is presently -93.49%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CCOI shares. StockNews.com raised shares of Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. UBS Group initiated coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and an average price target of $80.25.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted 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 buying an additional 43,523 shares during the period. Brown Advisory Inc. lifted its stake in shares of Cogent Communications by 24.1% in the 4th quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock valued at $146,209,000 after purchasing an additional 368,129 shares during the period. State Street Corp boosted its position in shares of Cogent Communications by 1.3% in the 3rd quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock worth $132,921,000 after purchasing an additional 22,738 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Cogent Communications by 0.3% during the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock worth $117,107,000 after purchasing an additional 5,307 shares during the period. Finally, Hood River Capital Management LLC grew its stake in shares of Cogent Communications by 21.8% during the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after purchasing an additional 257,383 shares during the period. Institutional investors own 92.45% of the company’s stock.

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.