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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) CRO James Bubeck sold 2,000 shares of Cogent Communications stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $47.50, for a total value of $95,000.00. Following the completion of the sale, the executive now directly owns 55,142 shares in the company, valued at approximately $2,619,245. The trade was a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cogent Communications Stock Performance

NASDAQ CCOI opened at $47.84 on Friday. The company has a market cap of $2.36 billion, a P/E ratio of 61.33 and a beta of 0.72. 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 business’s 50 day moving average price is $51.42 and its 200-day moving average price is $67.00. Cogent Communications Holdings, Inc. has a fifty-two week low of $43.65 and a fifty-two week high of $86.76.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, May 8th. The technology company reported ($1.09) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $247.05 million for the quarter, compared to the consensus estimate of $250.81 million. During the same period in the prior year, the firm posted ($1.38) EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Thursday, May 22nd were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $4.04 dividend on an annualized basis and a yield of 8.44%. This is a boost from Cogent Communications’s previous quarterly dividend of $1.01. Cogent Communications’s payout ratio is presently -100.75%.

Hedge Funds Weigh In On Cogent Communications

A number of large investors have recently bought and sold shares of CCOI. DigitalBridge Group Inc. boosted its holdings in Cogent Communications by 246.0% during the 4th quarter. DigitalBridge Group Inc. now owns 907,916 shares of the technology company’s stock valued at $69,973,000 after acquiring an additional 645,521 shares during the period. Raymond James Financial Inc. purchased a new position in Cogent Communications during the 4th quarter valued at $39,845,000. EdgePoint Investment Group Inc. boosted its holdings in Cogent Communications by 30.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,012,297 shares of the technology company’s stock valued at $123,374,000 after acquiring an additional 469,028 shares during the period. Brown Advisory Inc. boosted its holdings in Cogent Communications by 24.1% during the 4th quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock valued at $146,209,000 after acquiring an additional 368,129 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in Cogent Communications by 21.8% during the 4th quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock valued at $110,738,000 after acquiring an additional 257,383 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen raised Cogent Communications to a “sell” rating in a research note on Monday, March 3rd. UBS Group reduced their price objective on Cogent Communications from $102.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group reduced their price objective on Cogent Communications from $71.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.75.

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.