Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 515 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $57.45, for a total value of $29,586.75. Following the completion of the sale, the director now directly owns 3,355 shares in the company, valued at approximately $192,744.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of NASDAQ:CCOI opened at $57.78 on Monday. Cogent Communications Holdings Inc has a 52-week low of $42.40 and a 52-week high of $58.72. The firm has a market capitalization of $2.68 billion, a PE ratio of 91.71, a P/E/G ratio of 8.27 and a beta of 0.70.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Cogent Communications had a negative return on equity of 22.47% and a net margin of 5.92%. The business had revenue of $134.20 million for the quarter, compared to the consensus estimate of $135.21 million. During the same period in the prior year, the business earned $0.15 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Cogent Communications Holdings Inc will post 0.87 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in Cogent Communications by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,865,395 shares of the technology company’s stock worth $310,385,000 after buying an additional 210,635 shares during the period. First Trust Advisors LP lifted its position in Cogent Communications by 3.4% during the first quarter. First Trust Advisors LP now owns 1,785,559 shares of the technology company’s stock worth $96,867,000 after buying an additional 59,007 shares during the period. FMR LLC lifted its position in Cogent Communications by 33.2% during the first quarter. FMR LLC now owns 1,488,748 shares of the technology company’s stock worth $80,764,000 after buying an additional 370,945 shares during the period. Dimensional Fund Advisors LP lifted its position in Cogent Communications by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,385,819 shares of the technology company’s stock worth $62,654,000 after buying an additional 22,196 shares during the period. Finally, MIG Capital LLC lifted its position in Cogent Communications by 13.0% during the first quarter. MIG Capital LLC now owns 989,801 shares of the technology company’s stock worth $53,697,000 after buying an additional 113,801 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.
CCOI has been the topic of several research reports. Oppenheimer lowered Cogent Communications from an “outperform” rating to a “market perform” rating in a report on Friday, May 10th. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Royal Bank of Canada upped their price objective on Cogent Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, February 25th. ValuEngine downgraded Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research upgraded Cogent Communications from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $50.14.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
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