Insider Selling: Robert N. Beury, Jr. Unloads 1,000 Shares of Cogent Communications Group Stock (CCOI)
Cogent Communications Group (NASDAQ:CCOI) VP Robert N. Beury, Jr. sold 1,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $36.36, for a total value of $36,360.00. Following the completion of the transaction, the vice president now directly owns 40,640 shares of the company’s stock, valued at approximately $1,477,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cogent Communications Group (NASDAQ:CCOI) traded up 0.78% on Wednesday, hitting $35.07. 152,337 shares of the company’s stock traded hands. Cogent Communications Group has a 1-year low of $25.90 and a 1-year high of $43.50. The stock’s 50-day moving average is $35.83 and its 200-day moving average is $37.80. The company has a market cap of $1.615 billion and a P/E ratio of 29.00.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 18th. Investors of record on Friday, May 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, June 4th. This is an increase from Cogent Communications Group’s previous quarterly dividend of $0.16.
Separately, analysts at Oppenheimer upgraded shares of Cogent Communications Group from a “market perform” rating to an “outperform” rating in a research note on Friday, April 11th. They now have a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.00.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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