Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Free Report) CFO Thaddeus Gerard Weed sold 4,850 shares of Cogent Communications stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $69.43, for a total transaction of $336,735.50. Following the transaction, the chief financial officer now directly owns 53,550 shares in the company, valued at approximately $3,717,976.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Cogent Communications Price Performance
CCOI traded down $1.42 during trading hours on Tuesday, hitting $69.89. The company’s stock had a trading volume of 354,570 shares, compared to its average volume of 318,110. The business’s 50-day moving average price is $65.46 and its 200-day moving average price is $64.78. Cogent Communications Holdings, Inc. has a 12 month low of $46.75 and a 12 month high of $75.00. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 2.95 and a beta of 0.42. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.33.
Cogent Communications (NASDAQ:CCOI – Get Free Report) last announced its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.19). Cogent Communications had a negative return on equity of 2.48% and a net margin of 161.48%. The business had revenue of $239.81 million during the quarter, compared to the consensus estimate of $259.80 million. Sell-side analysts expect that Cogent Communications Holdings, Inc. will post -2.12 earnings per share for the current fiscal year.
Cogent Communications Increases Dividend
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the stock. TheStreet raised shares of Cogent Communications from a “c” rating to a “b-” rating in a report on Friday, August 11th. The Goldman Sachs Group upgraded shares of Cogent Communications from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $43.00 to $64.00 in a research report on Monday, August 21st. TD Cowen upgraded shares of Cogent Communications from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Friday, August 11th. KeyCorp lifted their price objective on shares of Cogent Communications from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, Citigroup lifted their price objective on shares of Cogent Communications from $70.00 to $82.00 in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.60.
View Our Latest Analysis on Cogent Communications
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. boosted its stake in Cogent Communications by 2.2% during the first quarter. Raymond James Trust N.A. now owns 6,486 shares of the technology company’s stock worth $413,000 after buying an additional 138 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Cogent Communications by 4.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,884 shares of the technology company’s stock worth $247,000 after buying an additional 162 shares during the period. 1832 Asset Management L.P. boosted its stake in Cogent Communications by 70.0% during the second quarter. 1832 Asset Management L.P. now owns 408 shares of the technology company’s stock worth $27,000 after buying an additional 168 shares during the period. Creative Planning boosted its stake in Cogent Communications by 3.1% during the fourth quarter. Creative Planning now owns 6,123 shares of the technology company’s stock worth $350,000 after buying an additional 186 shares during the period. Finally, Strs Ohio boosted its stake in Cogent Communications by 15.4% during the second quarter. Strs Ohio now owns 1,500 shares of the technology company’s stock worth $100,000 after buying an additional 200 shares during the period. 85.79% of the stock is owned by hedge funds and other institutional investors.
About Cogent Communications
(Get Free Report)
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Asia, South America, Australia, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.
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