Insider Selling: Cogeco Communications Inc (TSE:CCA) Senior Officer Sells 274 Shares of Stock

Cogeco Communications Inc (TSE:CCA) Senior Officer Pierre Maheux sold 274 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of C$105.35, for a total transaction of C$28,865.90. Following the completion of the sale, the insider now directly owns 1,934 shares in the company, valued at C$203,746.90.

Shares of Cogeco Communications stock traded up C$2.69 during trading hours on Monday, reaching C$105.78. The stock had a trading volume of 240,975 shares, compared to its average volume of 88,196. The company’s 50 day simple moving average is C$94.55. The stock has a market cap of $5.12 billion and a price-to-earnings ratio of 15.15. Cogeco Communications Inc has a twelve month low of C$61.68 and a twelve month high of C$107.00. The company has a quick ratio of 1.71, a current ratio of 1.80 and a debt-to-equity ratio of 136.92.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, August 7th will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.99%. Cogeco Communications’s dividend payout ratio (DPR) is currently 28.65%.

Several equities research analysts have commented on CCA shares. Desjardins upped their price target on shares of Cogeco Communications from C$96.00 to C$99.00 in a report on Friday. Royal Bank of Canada reaffirmed a “hold” rating and issued a $0.35 price target on shares of DB Commodity Double Short ETN in a report on Friday. BMO Capital Markets upped their price target on shares of Cogeco Communications from C$95.00 to C$100.00 in a report on Friday. National Bank Financial upped their price target on shares of Wesdome Gold Mines from C$6.00 to C$6.25 and gave the company an “outperform” rating in a report on Friday. Finally, Canaccord Genuity upped their price objective on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$98.50.

Cogeco Communications Company Profile

Cogeco Communications Inc operates as a communications corporation in North America. The company operates in three segments: Canadian Broadband Services; American Broadband Services; and Business Information and Communications Technology Services. It offers digital video and programming services, such as basic services, digital tier packages, discretionary services, pay-per-view channels, video-on-demand services, high definition and 4K television services, and advanced video services; Internet services; and telephony services to residential customers comprising direct international calling, international long distance plans, voicemail, and other custom calling features.

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