Several other research firms have also recently commented on CCOI. BidaskClub raised Cogent Communications from a hold rating to a buy rating in a research note on Saturday, September 29th. BTIG Research cut Cogent Communications from a buy rating to a neutral rating in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research cut Cogent Communications from a hold rating to a sell rating in a research note on Wednesday, July 4th. Oppenheimer raised their target price on Cogent Communications from $51.00 to $57.00 and gave the stock an outperform rating in a research note on Monday, June 11th. Finally, Guggenheim reaffirmed a hold rating and set a $47.00 target price on shares of Cogent Communications in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $47.89.
NASDAQ CCOI opened at $52.61 on Monday. Cogent Communications has a one year low of $35.75 and a one year high of $57.65. The company has a market cap of $2.59 billion, a P/E ratio of 138.45, a price-to-earnings-growth ratio of 8.51 and a beta of 0.59. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of -6.22.
In other Cogent Communications news, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $53.95, for a total value of $161,850.00. Following the transaction, the vice president now owns 47,840 shares in the company, valued at $2,580,968. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $51.95, for a total value of $51,950.00. Following the completion of the transaction, the vice president now owns 40,652 shares in the company, valued at approximately $2,111,871.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,911 shares of company stock worth $1,796,751. Corporate insiders own 10.21% of the company’s stock.
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Cogent Communications in the first quarter worth approximately $152,000. Quantbot Technologies LP bought a new position in shares of Cogent Communications in the first quarter valued at approximately $216,000. Sei Investments Co. lifted its holdings in shares of Cogent Communications by 29.7% in the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock valued at $232,000 after purchasing an additional 1,223 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Cogent Communications in the second quarter valued at approximately $266,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Cogent Communications in the second quarter valued at approximately $311,000. Institutional investors and hedge funds own 90.40% of the company’s stock.
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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