Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Free Report) has earned an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $72.00.
CCOI has been the subject of several research analyst reports. Bank of America raised Cogent Communications from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $85.00 in a research report on Wednesday, May 3rd. JPMorgan Chase & Co. lowered Cogent Communications from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $70.00 in a research note on Monday, May 8th. TD Cowen upgraded Cogent Communications from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Friday, August 11th. 888 restated a “reiterates” rating on shares of Cogent Communications in a research note on Monday, May 22nd. Finally, Citigroup boosted their price target on Cogent Communications from $70.00 to $82.00 in a research note on Friday.
Get Our Latest Report on CCOI
Insider Transactions at Cogent Communications
In other news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $61.07, for a total value of $117,254.40. Following the transaction, the executive now directly owns 40,502 shares of the company’s stock, valued at approximately $2,473,457.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cogent Communications news, Director Sheryl Lynn Kennedy sold 1,100 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $63.14, for a total transaction of $69,454.00. Following the transaction, the director now owns 7,565 shares of the company’s stock, valued at approximately $477,654.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $61.07, for a total value of $117,254.40. Following the transaction, the executive now directly owns 40,502 shares in the company, valued at approximately $2,473,457.14. The disclosure for this sale can be found here. Insiders have sold 26,533 shares of company stock valued at $1,678,737 in the last three months. 11.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Spire Wealth Management increased its position in shares of Cogent Communications by 155.8% in the 1st quarter. Spire Wealth Management now owns 399 shares of the technology company’s stock valued at $25,000 after buying an additional 243 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Cogent Communications by 70.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 408 shares of the technology company’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Cogent Communications by 153.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 413 shares of the technology company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Cogent Communications in the 4th quarter valued at $28,000. Finally, Quadrant Capital Group LLC increased its position in shares of Cogent Communications by 123.3% in the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the technology company’s stock valued at $39,000 after buying an additional 381 shares in the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.
Cogent Communications Price Performance
NASDAQ CCOI opened at $69.33 on Monday. Cogent Communications has a twelve month low of $46.75 and a twelve month high of $75.00. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.72 and a current ratio of 1.72. The stock has a market capitalization of $3.39 billion, a PE ratio of 2.93 and a beta of 0.45. The stock has a 50-day simple moving average of $64.41 and a 200 day simple moving average of $64.61.
Cogent Communications Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 24th will be issued a $0.945 dividend. This is an increase from Cogent Communications’s previous quarterly dividend of $0.94. This represents a $3.78 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Wednesday, August 23rd. Cogent Communications’s payout ratio is presently 15.83%.
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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