Cogent Communications Group Director Sells $79,760 in Stock (CCOI)
Cogent Communications Group (NASDAQ:CCOI) Director Steven Brooks sold 2,000 shares of the stock on the open market in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $39.88, for a total transaction of $79,760.00. Following the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $938,177. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CCOI shares. Analysts at Jefferies Group initiated coverage on shares of Cogent Communications Group in a research note to investors on Thursday, December 19th. They set a “hold” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Cogent Communications Group from $38.00 to $42.00 in a research note to investors on Monday, November 11th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Cogent Communications Group from $35.00 to $39.00 in a research note to investors on Monday, November 11th. They now have a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $31.71.
Shares of Cogent Communications Group (NASDAQ:CCOI) traded up 0.15% during mid-day trading on Friday, hitting $39.93. The stock had a trading volume of 417,070 shares. Cogent Communications Group has a 52-week low of $22.79 and a 52-week high of $41.25. The stock has a 50-day moving average of $38.3 and a 200-day moving average of $33.18. The company has a market cap of $1.842 billion and a price-to-earnings ratio of 480.36.
Cogent Communications Group (NASDAQ:CCOI) last released its earnings data on Friday, November 8th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.02. The company had revenue of $87.80 million for the quarter, compared to the consensus estimate of $88.33 million. Cogent Communications Group’s revenue was up 10.0% compared to the same quarter last year.
Cogent Communications Group, Inc is a facilities-based provider of Internet access and Internet Protocol (NASDAQ:CCOI), communications services.
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