Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 800 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was sold at an average price of $47.20, for a total value of $37,760.00. Following the sale, the director now owns 950 shares in the company, valued at approximately $44,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Cogent Communications stock traded down $0.59 during midday trading on Friday, reaching $46.76. The stock had a trading volume of 172,689 shares, compared to its average volume of 266,055. Cogent Communications Holdings Inc has a twelve month low of $35.75 and a twelve month high of $57.65. The stock has a market capitalization of $2.17 billion, a P/E ratio of 123.05, a PEG ratio of 8.86 and a beta of 0.55.
Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Cogent Communications had a negative return on equity of 24.22% and a net margin of 2.99%. The firm had revenue of $130.00 million for the quarter, compared to analysts’ expectations of $132.09 million. During the same quarter last year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts predict that Cogent Communications Holdings Inc will post 0.66 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Cogent Communications by 13.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,981 shares of the technology company’s stock valued at $557,000 after acquiring an additional 1,168 shares during the last quarter. Comerica Bank boosted its holdings in Cogent Communications by 2.8% in the second quarter. Comerica Bank now owns 44,797 shares of the technology company’s stock valued at $2,432,000 after acquiring an additional 1,233 shares during the last quarter. Vident Investment Advisory LLC boosted its holdings in Cogent Communications by 8.1% in the second quarter. Vident Investment Advisory LLC now owns 25,856 shares of the technology company’s stock valued at $1,381,000 after acquiring an additional 1,927 shares during the last quarter. DF Dent & Co. Inc. raised its position in Cogent Communications by 6.4% in the third quarter. DF Dent & Co. Inc. now owns 35,776 shares of the technology company’s stock valued at $1,996,000 after purchasing an additional 2,139 shares during the period. Finally, Teachers Advisors LLC raised its position in Cogent Communications by 2.1% in the third quarter. Teachers Advisors LLC now owns 109,507 shares of the technology company’s stock valued at $6,110,000 after purchasing an additional 2,277 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.
Several equities research analysts have recently issued reports on CCOI shares. BidaskClub upgraded Cogent Communications from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. Royal Bank of Canada set a $48.00 price objective on Cogent Communications and gave the stock a “hold” rating in a report on Tuesday, November 13th. Zacks Investment Research upgraded Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 price objective on the stock in a report on Monday, October 8th. Wells Fargo & Co raised their price objective on Cogent Communications from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, November 2nd. Finally, BTIG Research cut Cogent Communications from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Cogent Communications presently has a consensus rating of “Hold” and an average price target of $50.71.
About Cogent Communications
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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