Cogent Communications Holdings, Inc. (NASDAQ: CCOI – Rated ) CRO James Bubeck sold 1,920 shares in trading on Thursday, December 1. These shares sold at an average price of $58.15 for a total value of $111,648.00. Following the deal, the executive now directly owns 36,662 shares of the company, worth approximately $2,131,895.30. The transaction has been disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink.
Cogent Communications stock performance
CCOI shares fell $0.68 on Friday to hit $56.96. The stock’s volume was 3,100 shares, compared with its average volume of 271,995 shares. The company has a market cap of $2.73 billion, a P/E ratio of 120.09, a P/E ratio of 8.85, and a beta of 0.37. The business has a 50-day simple moving average of $54.01 and a 200-day simple moving average of $56.98. Cogent Communications Holdings, Inc. had a one-year low of $46.75 and a one-year high of $79.23.
Persuasive communication pays dividends
The company also recently announced a quarterly dividend, payable on Friday, December 2. Investors of record on Friday, November 18 will receive a dividend of $0.915 per share. The ex-dividend date is Thursday, November 17. This represents an annualized dividend of $3.66 and a dividend yield of 6.43%. That’s up from Cogent Communications’ previous quarterly dividend of $0.91. Cogent Communications has a dividend payout ratio (DPR) of 762.52%.
Analyst sets new price target
A number of brokerages have recently released CCOI reports. Cowen cut their price objective on shares of Cogent Communications to $62.00 in a research note on Tuesday, August 9th. Goldman Sachs Group lowered their price target on Cogent Communications from $49.00 to $43.00 and set a “sell” rating on the stock in a research report on Monday, November 7th. Moffett Nathanson upped their price objective on shares of Cogent Communications to $93.00 in a research note on Thursday, November 17th. KeyCorp raised shares of Cogent Communications from a “sector weight” rating to an “overweight” rating and set a $64.00 price objective on the stock in a research report on Tuesday, September 27th. Finally, Wells Fargo & Company cut their price target on Cogent Communications from $55.00 to $53.00 and set an “underweight” rating on the company in a report on Friday, November 4th. Two equity research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.00.
Institutional Investors Weigh Persuasive Communications
Many large investors have recently increased or decreased their stakes in CCOI. McIlrath & Eck LLC improved its position in Cogent Communications by 70.8% in the second quarter. McIlrath & Eck LLC now owns 468 shares of the tech company worth $28,000 after buying an additional 194 shares during that period. CWM LLC increased its stake in Cogent Communications by 862.5% during the third quarter. CWM LLC now owns 616 shares of the tech company worth $32,000 after buying an additional 552 shares last quarter. Byrne Asset Management LLC bought a new position in Cogent Communications stock worth $35,000 in the third quarter. Signaturefd LLC increased its stake in Cogent Communications by 50.8% during the third quarter. Signaturefd LLC now owns 742 shares of the tech company worth $39,000 after buying an additional 250 shares last quarter. Finally, Prospera Financial Services Inc purchased a new stake in Cogent Communications for $45,000 during the first quarter. Institutional investors hold 86.84% of the company’s shares.
About Cogent Communications
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private networks and data center colocation space services in North America, Europe, Asia, South America, Australia and Africa. The company provides online Internet access and private network services to law firms, financial services companies, advertising and marketing firms, as well as healthcare providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, and cable companies Television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.
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