Cogent Communications Holdings, Inc. (NASDAQ:CCOI) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday, MarketBeat Ratings reports.

A number of other brokerages have also recently issued reports on CCOI. Citigroup Inc. cut shares of Cogent Communications Holdings from a “neutral” rating to a “sell” rating in a report on Thursday. Wells Fargo & Company cut shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $46.00 to $48.00 in a report on Monday, October 9th. Zacks Investment Research cut shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of Cogent Communications Holdings in a report on Wednesday, October 11th. Finally, Deutsche Bank AG upped their price objective on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.38.

Shares of Cogent Communications Holdings (NASDAQ:CCOI) traded down $10.95 during trading hours on Friday, reaching $42.60. 1,412,185 shares of the company were exchanged, compared to its average volume of 366,132. The stock has a market cap of $2.16 billion, a P/E ratio of 130.56 and a beta of 0.65.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The business had revenue of $123.00 million during the quarter, compared to the consensus estimate of $123.60 million. Cogent Communications Holdings had a negative return on equity of 23.86% and a net margin of 3.37%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. research analysts anticipate that Cogent Communications Holdings will post 0.46 earnings per share for the current year.

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In related news, VP Timothy G. Oneill sold 2,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $48.75, for a total value of $97,500.00. Following the completion of the sale, the vice president now owns 39,052 shares in the company, valued at $1,903,785. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Timothy G. Oneill sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $46.60, for a total transaction of $46,600.00. Following the completion of the sale, the vice president now owns 41,052 shares of the company’s stock, valued at approximately $1,913,023.20. The disclosure for this sale can be found here. Insiders have sold 30,466 shares of company stock valued at $1,380,404 over the last 90 days. Corporate insiders own 9.48% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Cogent Communications Holdings by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 7,186 shares of the technology company’s stock valued at $288,000 after buying an additional 38 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of Cogent Communications Holdings by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock valued at $217,000 after buying an additional 53 shares during the period. Aperio Group LLC lifted its stake in shares of Cogent Communications Holdings by 1.1% in the second quarter. Aperio Group LLC now owns 9,168 shares of the technology company’s stock valued at $368,000 after buying an additional 99 shares during the period. Arizona State Retirement System lifted its stake in shares of Cogent Communications Holdings by 0.5% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the technology company’s stock valued at $858,000 after buying an additional 100 shares during the period. Finally, Laurion Capital Management LP lifted its stake in shares of Cogent Communications Holdings by 1.3% in the second quarter. Laurion Capital Management LP now owns 8,000 shares of the technology company’s stock valued at $321,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds 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.

Analyst Recommendations for Cogent Communications Holdings (NASDAQ:CCOI)

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