Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Free Report) CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction on Friday, September 1st. The stock was sold at an average price of $70.96, for a total transaction of $136,243.20. Following the sale, the executive now owns 38,582 shares in the company, valued at $2,737,778.72. The sale was disclosed in a document filed with the SEC, which is available through this link.
Cogent Communications Price Performance
Shares of NASDAQ CCOI traded down $2.21 on Tuesday, hitting $69.10. The company’s stock had a trading volume of 156,530 shares, compared to its average volume of 316,900. Cogent Communications Holdings, Inc. has a 12-month low of $46.75 and a 12-month high of $75.00. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 2.95 and a beta of 0.42. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a 50 day moving average of $65.46 and a 200-day moving average of $64.78.
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 (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.19). Cogent Communications had a net margin of 161.48% and a negative return on equity of 2.48%. The business had revenue of $239.81 million during the quarter, compared to analysts’ expectations of $259.80 million. As a group, research analysts predict that Cogent Communications Holdings, Inc. will post -2.12 EPS for the current year.
Cogent Communications Increases Dividend
Hedge Funds Weigh In On Cogent Communications
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cogent Communications by 1.8% in the third quarter. Vanguard Group Inc. now owns 5,172,729 shares of the technology company’s stock valued at $269,811,000 after buying an additional 90,137 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Cogent Communications by 1.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,146,436 shares of the technology company’s stock worth $144,434,000 after purchasing an additional 38,014 shares during the last quarter. Renaissance Technologies LLC increased its position in Cogent Communications by 0.6% during the second quarter. Renaissance Technologies LLC now owns 1,819,556 shares of the technology company’s stock worth $122,438,000 after purchasing an additional 10,400 shares during the last quarter. State Street Corp increased its position in Cogent Communications by 0.6% during the second quarter. State Street Corp now owns 1,772,398 shares of the technology company’s stock worth $119,265,000 after purchasing an additional 10,259 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Cogent Communications by 8.4% during the first quarter. Brown Advisory Inc. now owns 1,344,933 shares of the technology company’s stock worth $85,699,000 after purchasing an additional 103,970 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on CCOI. 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 note 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 note on Monday, August 21st. Citigroup boosted their price target on shares of Cogent Communications from $70.00 to $82.00 in a research note on Friday, August 18th. JPMorgan Chase & Co. lowered shares of Cogent Communications from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $70.00 in a research note on Monday, May 8th. Finally, 888 reiterated a “reiterates” rating on shares of Cogent Communications in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.60.
Read Our Latest Report on CCOI
Cogent Communications Company Profile
(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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