Cogent Communications Holdings, Inc. (NASDAQ:CCOI)‘s stock had its “hold” rating reaffirmed by stock analysts at KeyCorp in a report released on Wednesday.

A number of other equities analysts also recently issued reports on the stock. Off Wall Street started coverage on shares of Cogent Communications Holdings in a research note on Monday, July 31st. They issued a “sell” rating and a $29.00 price target for the company. BidaskClub downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Cogent Communications Holdings in a research note on Sunday, July 9th. Deutsche Bank AG reissued a “buy” rating and issued a $48.00 price target (up from $47.00) on shares of Cogent Communications Holdings in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $44.23.

Cogent Communications Holdings (CCOI) traded up 0.40% during mid-day trading on Wednesday, hitting $50.00. 135,289 shares of the stock traded hands. The company has a 50 day moving average of $47.44 and a 200-day moving average of $43.27. Cogent Communications Holdings has a 12-month low of $34.44 and a 12-month high of $51.85. The stock has a market cap of $2.23 billion, a PE ratio of 142.86 and a beta of 0.66.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $119.80 million for the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. Equities research analysts forecast that Cogent Communications Holdings will post $0.47 earnings per share for the current year.

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In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $41.95, for a total transaction of $41,950.00. Following the completion of the transaction, the vice president now owns 42,052 shares of the company’s stock, valued at $1,764,081.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven D. Brooks sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $43.25, for a total transaction of $432,500.00. Following the transaction, the director now directly owns 26,400 shares of the company’s stock, valued at approximately $1,141,800. The disclosure for this sale can be found here. Insiders have sold 31,466 shares of company stock valued at $1,422,354 in the last ninety days. Insiders own 9.48% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in shares of Cogent Communications Holdings by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 174,471 shares of the technology company’s stock valued at $7,511,000 after purchasing an additional 524 shares in the last quarter. Aperio Group LLC increased its stake in shares of Cogent Communications Holdings by 1.1% during the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after purchasing an additional 99 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Cogent Communications Holdings by 35.3% during the first quarter. OppenheimerFunds Inc. now owns 8,785 shares of the technology company’s stock valued at $378,000 after purchasing an additional 2,291 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Cogent Communications Holdings by 0.7% during the first quarter. Parametric Portfolio Associates LLC now owns 146,097 shares of the technology company’s stock valued at $6,289,000 after purchasing an additional 962 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Cogent Communications Holdings by 6.0% during the first quarter. Geode Capital Management LLC now owns 336,917 shares of the technology company’s stock valued at $14,504,000 after purchasing an additional 18,988 shares in the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

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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