Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Tim Weingarten sold 2,500 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $51.01, for a total value of $127,525.00. Following the completion of the sale, the director now directly owns 21,111 shares of the company’s stock, valued at approximately $1,076,872.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Cogent Communications stock traded down $1.04 during mid-day trading on Friday, hitting $50.21. 12,000 shares of the company’s stock traded hands, compared to its average volume of 349,567. Cogent Communications Holdings Inc has a fifty-two week low of $35.75 and a fifty-two week high of $57.65. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 131.18, a P/E/G ratio of 9.69 and a beta of 0.61.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Cogent Communications had a negative return on equity of 24.22% and a net margin of 2.99%. The business had revenue of $130.00 million during the quarter, compared to the consensus estimate of $132.09 million. During the same quarter last year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Cogent Communications Holdings Inc will post 0.66 EPS for the current year.
Several equities research analysts have recently commented on CCOI shares. BidaskClub downgraded Cogent Communications from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. William Blair reissued an “outperform” rating on shares of Cogent Communications in a report on Monday, October 8th. BTIG Research downgraded Cogent Communications from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Zacks Investment Research raised Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 price objective for the company in a report on Monday, October 8th. Finally, Guggenheim reissued a “hold” rating and issued a $47.00 price objective on shares of Cogent Communications in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Cogent Communications has a consensus rating of “Hold” and a consensus target price of $51.14.
Institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in Cogent Communications during the 3rd quarter valued at $232,000. Captrust Financial Advisors acquired a new stake in Cogent Communications during the 2nd quarter valued at $266,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Cogent Communications during the 2nd quarter valued at $311,000. Parametrica Management Ltd acquired a new stake in Cogent Communications during the 3rd quarter valued at $317,000. Finally, Perigon Wealth Management LLC bought a new position in Cogent Communications during the 2nd quarter worth $332,000. 90.36% of the stock is owned by institutional investors and hedge funds.
Cogent Communications Company Profile
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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