Cogent Communications Holdings, Inc. (NASDAQ:CCOI) was downgraded by Citigroup Inc. from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, The Fly reports.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $48.00 target price on shares of Cogent Communications Holdings in a research report on Monday, September 18th. BidaskClub raised Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $48.00 target price (up previously from $47.00) on shares of Cogent Communications Holdings in a research report on Friday, July 14th. Zacks Investment Research raised Cogent Communications Holdings from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Monday, October 9th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $46.00 target price on shares of Cogent Communications Holdings in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Cogent Communications Holdings presently has a consensus rating of “Hold” and a consensus price target of $44.23.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The company had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS.

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In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 2,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $48.75, for a total transaction of $97,500.00. Following the completion of the transaction, the vice president now directly owns 39,052 shares in the company, valued at $1,903,785. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven D. Brooks sold 10,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $43.25, for a total value of $432,500.00. Following the transaction, the director now owns 26,400 shares of the company’s stock, valued at $1,141,800. The disclosure for this sale can be found here. Insiders sold 30,466 shares of company stock valued at $1,380,404 over the last 90 days. 9.48% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC raised its stake in Cogent Communications Holdings by 63.4% during the second quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after acquiring an additional 1,024 shares in the last quarter. Sei Investments Co. raised its stake in Cogent Communications Holdings by 29.7% during the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock worth $117,000 after acquiring an additional 670 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Cogent Communications Holdings during the second quarter worth $140,000. PNC Financial Services Group Inc. raised its stake in Cogent Communications Holdings by 1,919.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock worth $151,000 after acquiring an additional 3,589 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in Cogent Communications Holdings by 66.5% during the second quarter. Riverhead Capital Management LLC now owns 4,163 shares of the technology company’s stock worth $167,000 after acquiring an additional 1,663 shares in the last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.

Cogent Communications Holdings Company Profile

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.

The Fly

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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