Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO Sells $95,000.00 in Stock

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) CRO James Bubeck sold 2,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $47.50, for a total transaction of $95,000.00. Following the completion of the transaction, the executive now owns 55,142 shares in the company, valued at $2,619,245. The trade was a 3.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cogent Communications Stock Up 2.3%

Shares of Cogent Communications stock traded up $1.12 during midday trading on Monday, hitting $48.96. The company had a trading volume of 772,177 shares, compared to its average volume of 501,943. 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 stock has a market capitalization of $2.42 billion, a P/E ratio of 62.77 and a beta of 0.72. The company has a 50 day moving average of $51.17 and a 200 day moving average of $66.54. Cogent Communications Holdings, Inc. has a 52-week low of $43.65 and a 52-week high of $86.76.

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

Cogent Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Thursday, May 22nd were paid a $1.01 dividend. This is an increase from Cogent Communications's previous quarterly dividend of $1.01. This represents a $4.04 dividend on an annualized basis and a dividend yield of 8.25%. The ex-dividend date was Thursday, May 22nd. Cogent Communications's dividend payout ratio (DPR) is -100.75%.

Analysts Set New Price Targets

CCOI has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on Cogent Communications from $71.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. UBS Group lowered their price target on Cogent Communications from $102.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Cogent Communications to a "sell" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $75.75.

Hedge Funds Weigh In On Cogent Communications

A number of institutional investors and hedge funds have recently modified their holdings of CCOI. AlphaQuest LLC purchased a new position in shares of Cogent Communications in the 1st quarter worth $36,000. Hillsdale Investment Management Inc. purchased a new position in shares of Cogent Communications in the 4th quarter worth $46,000. Blue Trust Inc. boosted its stake in shares of Cogent Communications by 53.8% in the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock worth $47,000 after buying an additional 218 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Cogent Communications by 58.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 618 shares of the technology company's stock worth $48,000 after acquiring an additional 229 shares during the last quarter. Finally, Resources Management Corp CT ADV purchased a new position in shares of Cogent Communications during the 1st quarter worth $48,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

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.