Cogent Communications Holdings, Inc. (NASDAQ:CCOI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other research analysts also recently commented on CCOI. Cowen and Company reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Cogent Communications Holdings in a report on Friday, July 28th. Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $48.00 price objective (up from $47.00) on shares of Cogent Communications Holdings in a report on Friday, July 14th. Citigroup Inc. raised their price objective on shares of Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Finally, Off Wall Street began coverage on shares of Cogent Communications Holdings in a report on Monday, July 31st. They issued a “sell” rating and a $29.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.42.

Cogent Communications Holdings (CCOI) traded up 3.54% during midday trading on Friday, hitting $43.85. 532,207 shares of the stock were exchanged. The firm’s 50-day moving average price is $41.28 and its 200 day moving average price is $41.63. The firm has a market capitalization of $1.96 billion, a P/E ratio of 128.97 and a beta of 0.74. Cogent Communications Holdings has a 1-year low of $34.23 and a 1-year high of $45.25.

Cogent Communications Holdings (NASDAQ:CCOI) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. Analysts expect that Cogent Communications Holdings will post $0.48 earnings per share for the current fiscal year.

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In other Cogent Communications Holdings news, Director Tim Weingarten sold 2,383 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $40.15, for a total value of $95,677.45. Following the completion of the transaction, the director now directly owns 19,652 shares of the company’s stock, valued at approximately $789,027.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Robert N. Beury, Jr. sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $40.20, for a total transaction of $120,600.00. Following the completion of the transaction, the vice president now directly owns 53,240 shares of the company’s stock, valued at $2,140,248. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,183 shares of company stock valued at $617,248. Insiders own 9.48% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Cogent Communications Holdings by 125,208.8% in the first quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company’s stock valued at $213,356,000 after buying an additional 4,952,008 shares during the period. FMR LLC boosted its stake in Cogent Communications Holdings by 5.9% in the first quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock valued at $134,256,000 after buying an additional 173,379 shares during the period. Jennison Associates LLC boosted its stake in Cogent Communications Holdings by 13.1% in the second quarter. Jennison Associates LLC now owns 1,867,749 shares of the technology company’s stock valued at $74,897,000 after buying an additional 215,940 shares during the period. Renaissance Technologies LLC boosted its stake in Cogent Communications Holdings by 11.5% in the first quarter. Renaissance Technologies LLC now owns 1,813,500 shares of the technology company’s stock valued at $78,071,000 after buying an additional 187,400 shares during the period. Finally, First Trust Advisors LP boosted its stake in Cogent Communications Holdings by 23.0% in the second quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock valued at $56,685,000 after buying an additional 264,597 shares during the period. Hedge funds and other institutional investors own 95.00% of the company’s stock.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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