Cogeco Communications Inc. (TSE:CCA) Insider Cogeco Communications Inc. Buys 3,400 Shares of Stock

Posted by MarketBeat News on Aug 2nd, 2022

Cogeco Communications Inc. (TSE:CCA – Get Rating) insider Cogeco Communications Inc. purchased 3,400 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was bought at an average price of C$84.14 per share, for a total transaction of C$286,060.02. Following the completion of the purchase, the insider now directly owns 78,900 shares of the company’s stock, valued at C$6,638,275.17.

Cogeco Communications Inc. also recently made the following trade(s):

On Friday, July 29th, Cogeco Communications Inc. purchased 5,400 shares of Cogeco Communications stock. The stock was bought at an average price of C$83.89 per share, for a total transaction of C$452,994.12.
On Wednesday, July 27th, Cogeco Communications Inc. purchased 6,200 shares of Cogeco Communications stock. The stock was bought at an average price of C$85.30 per share, for a total transaction of C$528,889.76.
On Monday, July 25th, Cogeco Communications Inc. purchased 5,300 shares of Cogeco Communications stock. The stock was bought at an average price of C$85.88 per share, for a total transaction of C$455,138.03.
On Friday, July 22nd, Cogeco Communications Inc. purchased 3,900 shares of Cogeco Communications stock. The stock was bought at an average price of C$85.73 per share, for a total transaction of C$334,338.81.
On Monday, July 18th, Cogeco Communications Inc. bought 5,100 shares of Cogeco Communications stock. The shares were acquired at an average price of C$82.86 per share, for a total transaction of C$422,580.90.
On Friday, July 15th, Cogeco Communications Inc. bought 6,400 shares of Cogeco Communications stock. The shares were acquired at an average price of C$83.07 per share, for a total transaction of C$531,658.88.
On Wednesday, July 13th, Cogeco Communications Inc. bought 8,700 shares of Cogeco Communications stock. The shares were acquired at an average price of C$87.41 per share, for a total transaction of C$760,461.78.
On Monday, July 11th, Cogeco Communications Inc. bought 4,500 shares of Cogeco Communications stock. The shares were acquired at an average price of C$88.39 per share, for a total transaction of C$397,763.10.
On Friday, July 8th, Cogeco Communications Inc. bought 2,700 shares of Cogeco Communications stock. The shares were acquired at an average price of C$89.15 per share, for a total transaction of C$240,710.13.
On Wednesday, July 6th, Cogeco Communications Inc. bought 3,700 shares of Cogeco Communications stock. The shares were acquired at an average price of C$89.49 per share, for a total transaction of C$331,121.88.

Cogeco Communications Price Performance

Cogeco Communications stock opened at C$82.89 on Tuesday. Cogeco Communications Inc. has a one year low of C$81.44 and a one year high of C$119.27. The company has a debt-to-equity ratio of 148.86, a quick ratio of 0.53 and a current ratio of 0.56. The business has a fifty day moving average of C$91.89 and a two-hundred day moving average of C$99.28. The company has a market cap of C$3.95 billion and a P/E ratio of 9.37.

Cogeco Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Wednesday, August 10th will be issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, July 26th. Cogeco Communications’s dividend payout ratio (DPR) is currently 31.13%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCA shares. TD Securities upgraded shares of Cogeco Communications to a “buy” rating and set a C$120.00 target price on the stock in a research report on Friday, June 17th. Scotiabank lowered their price objective on shares of Cogeco Communications from C$114.50 to C$112.50 in a research report on Friday, July 15th. Royal Bank of Canada lowered their price objective on shares of Cogeco Communications from C$127.00 to C$118.00 in a research report on Tuesday, July 12th. CIBC lowered shares of Cogeco Communications from an “outperform” rating to a “hold” rating and lowered their price objective for the company from C$126.00 to C$100.00 in a research report on Wednesday, June 29th. Finally, National Bank Financial lowered shares of Cogeco Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Thursday, July 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cogeco Communications presently has an average rating of “Moderate Buy” and an average target price of C$116.06.

Cogeco Communications Company Profile

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Cogeco Communications Inc operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.