Cogent Communications Group VP Sells $34,270 in Stock (CCOI)
Cogent Communications Group (NASDAQ:CCOI) VP Raymond Kummer sold 1,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $34.27, for a total transaction of $34,270.00. Following the sale, the vice president now directly owns 59,940 shares in the company, valued at approximately $2,054,144. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
CCOI has been the subject of a number of recent research reports. Analysts at Citigroup Inc. upgraded shares of Cogent Communications Group from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Pacific Crest initiated coverage on shares of Cogent Communications Group in a research note to investors on Wednesday, September 18th. They set an “outperform” rating and a $39.00 price target on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cogent Communications Group presently has an average rating of “Buy” and an average price target of $28.83.
Shares of Cogent Communications Group (NASDAQ:CCOI) traded up 0.58% during mid-day trading on Thursday, hitting $34.60. The stock had a trading volume of 138,877 shares. Cogent Communications Group has a 52-week low of $20.30 and a 52-week high of $35.11. The stock has a 50-day moving average of $32.08 and a 200-day moving average of $29.61. The company has a market cap of $1.593 billion and a P/E ratio of 982.86.
Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.05 by $0.02. The company had revenue of $85.80 million for the quarter, compared to the consensus estimate of $86.56 million. During the same quarter last year, the company posted ($0.04) earnings per share. Cogent Communications Group’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Cogent Communications Group will post $0.20 EPS for the current fiscal year.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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