Insider Selling: Cogent Communications Group VP Henry W. Kilmer Unloads 1,250 Shares of Stock (CCOI)
Cogent Communications Group (NASDAQ:CCOI) VP Henry W. Kilmer sold 1,250 shares of Cogent Communications Group stock on the open market in a transaction dated Monday, August 18th. The stock was sold at an average price of $32.88, for a total value of $41,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cogent Communications Group in a research note on Monday, August 11th. They now have a $40.00 price target on the stock, down previously from $45.00. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.00.
Cogent Communications Group (NASDAQ:CCOI) traded up 1.24% during mid-day trading on Tuesday, hitting $33.795. 180,001 shares of the company’s stock traded hands. Cogent Communications Group has a 1-year low of $30.25 and a 1-year high of $43.50. The stock has a 50-day moving average of $34.28 and a 200-day moving average of $35.94. The company has a market cap of $1.551 billion and a price-to-earnings ratio of 27.77.
Cogent Communications Group (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.03. The company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $95.60 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts predict that Cogent Communications Group will post $0.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Shareholders of record on Friday, August 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a positive change from Cogent Communications Group’s previous quarterly dividend of $0.17.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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