Cogent Communications Group Inc. (NASDAQ:CCOI) CRO James Bubeck sold 800 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $39.76, for a total transaction of $31,808.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

James Bubeck also recently made the following trade(s):

  • On Thursday, August 25th, James Bubeck sold 233 shares of Cogent Communications Group stock. The shares were sold at an average price of $36.26, for a total transaction of $8,448.58.

Cogent Communications Group Inc. (NASDAQ:CCOI) opened at 39.75 on Monday. The firm’s 50 day moving average is $36.58 and its 200 day moving average is $38.45. The company has a market cap of $1.77 billion, a P/E ratio of 131.19 and a beta of 0.82. Cogent Communications Group Inc. has a 12-month low of $29.65 and a 12-month high of $43.61.

Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. The company earned $113.10 million during the quarter, compared to analysts’ expectations of $113.25 million. Cogent Communications Group had a negative return on equity of 53.79% and a net margin of 3.10%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. Equities research analysts anticipate that Cogent Communications Group Inc. will post $0.37 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Cogent Communications Group (NASDAQ:CCOI)

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, November 18th. This is a boost from Cogent Communications Group’s previous quarterly dividend of $0.38. Cogent Communications Group’s dividend payout ratio (DPR) is 490.32%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Harber Asset Management LLC boosted its position in shares of Cogent Communications Group by 48.3% in the third quarter. Harber Asset Management LLC now owns 113,122 shares of the company’s stock valued at $4,164,000 after buying an additional 36,858 shares during the period. Convergence Investment Partners LLC boosted its position in shares of Cogent Communications Group by 22.2% in the third quarter. Convergence Investment Partners LLC now owns 46,141 shares of the company’s stock valued at $1,698,000 after buying an additional 8,391 shares during the period. Principal Financial Group Inc. boosted its position in shares of Cogent Communications Group by 4.9% in the third quarter. Principal Financial Group Inc. now owns 309,573 shares of the company’s stock valued at $11,395,000 after buying an additional 14,388 shares during the period. Northern Trust Corp boosted its position in shares of Cogent Communications Group by 1.6% in the third quarter. Northern Trust Corp now owns 635,417 shares of the company’s stock valued at $23,389,000 after buying an additional 9,987 shares during the period. Finally, Columbus Circle Investors boosted its position in shares of Cogent Communications Group by 75.3% in the third quarter. Columbus Circle Investors now owns 33,389 shares of the company’s stock valued at $1,229,000 after buying an additional 14,339 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

CCOI has been the subject of a number of recent research reports. Citigroup Inc. boosted their price objective on shares of Cogent Communications Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised shares of Cogent Communications Group from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Monday, August 1st. Drexel Hamilton set a $44.00 price objective on shares of Cogent Communications Group and gave the company a “buy” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. reissued a “hold” rating and set a $40.00 price objective on shares of Cogent Communications Group in a research report on Friday, August 5th. Finally, TheStreet raised shares of Cogent Communications Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.38.

Cogent Communications Group Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

5 Day Chart for NASDAQ:CCOI

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