Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Raymond B. Kummer sold 3,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $61.92, for a total transaction of $185,760.00. Following the completion of the transaction, the vice president now owns 38,400 shares in the company, valued at $2,377,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NASDAQ CCOI traded up $0.79 on Wednesday, reaching $62.59. 6,858 shares of the company’s stock traded hands, compared to its average volume of 231,672. The stock has a market cap of $2.94 billion, a PE ratio of 99.35, a P/E/G ratio of 9.05 and a beta of 0.57. Cogent Communications Holdings Inc has a 12 month low of $42.40 and a 12 month high of $64.91. The stock has a 50-day simple moving average of $60.19 and a 200 day simple moving average of $59.32.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.12. Cogent Communications had a net margin of 6.91% and a negative return on equity of 21.84%. The firm had revenue of $136.94 million during the quarter, compared to analyst estimates of $136.50 million. During the same period in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that Cogent Communications Holdings Inc will post 0.87 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in CCOI. Strs Ohio grew its position in shares of Cogent Communications by 1,150.0% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the technology company’s stock worth $148,000 after buying an additional 2,300 shares during the period. Man Group plc grew its stake in shares of Cogent Communications by 5.7% during the 3rd quarter. Man Group plc now owns 605,077 shares of the technology company’s stock valued at $33,340,000 after acquiring an additional 32,627 shares during the period. Brookstone Capital Management bought a new position in shares of Cogent Communications during the 2nd quarter valued at approximately $423,000. KBC Group NV purchased a new stake in Cogent Communications in the 2nd quarter worth approximately $148,000. Finally, Aperio Group LLC raised its stake in Cogent Communications by 17.7% during the 2nd quarter. Aperio Group LLC now owns 25,356 shares of the technology company’s stock worth $1,505,000 after acquiring an additional 3,818 shares during the period. 85.18% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. ValuEngine downgraded Cogent Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet raised Cogent Communications from a “c+” rating to a “b-” rating in a report on Thursday, November 21st. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on Cogent Communications from $54.00 to $65.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $64.40.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
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