Cogint (COGT) Shares Up 0% on Insider Buying Activity
Cogint, Inc. (NASDAQ:COGT) shot up 0% on Wednesday following insider buying activity. The stock traded as high as $3.15 and last traded at $3.15. 2,370,700 shares changed hands during trading, an increase of 97% from the average session volume of 1,201,107 shares. The stock had previously closed at $3.15.
Specifically, Director Michael Brauser bought 18,000 shares of Cogint stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average price of $3.65 per share, for a total transaction of $65,700.00. Following the completion of the acquisition, the director now owns 329,235 shares of the company’s stock, valued at $1,201,707.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Conlin bought 20,000 shares of Cogint stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $2.81 per share, for a total transaction of $56,200.00. Following the acquisition, the insider now directly owns 2,828,235 shares of the company’s stock, valued at approximately $7,947,340.35. The disclosure for this purchase can be found here. Insiders purchased 155,037 shares of company stock worth $483,003 in the last quarter. 54.10% of the stock is owned by insiders.
A number of brokerages have commented on COGT. Zacks Investment Research upgraded Cogint from a “sell” rating to a “hold” rating in a research note on Wednesday. Chardan Capital restated a “buy” rating and set a $7.00 price objective (down previously from $12.50) on shares of Cogint in a research note on Thursday, November 9th.
Several institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG lifted its stake in shares of Cogint by 141.0% during the fourth quarter. Deutsche Bank AG now owns 45,423 shares of the technology company’s stock worth $199,000 after purchasing an additional 26,579 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Cogint during the fourth quarter worth about $303,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cogint by 31.5% during the second quarter. Bank of New York Mellon Corp now owns 99,206 shares of the technology company’s stock worth $500,000 after purchasing an additional 23,769 shares in the last quarter. Institutional investors own 8.05% of the company’s stock.
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Cogint Company Profile
IDI, Inc, formerly Tiger Media, Inc, is a data and analytics company providing information and marketing solutions to businesses in a range of industries. The Company operates through two segments: Information Services and Performance Marketing. The Company serves the risk management and the consumer marketing industries through its consolidated subsidiaries, Interactive Data, LLC and Fluent, LLC, respectively.
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