Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $46.51, for a total value of $139,530.00. Following the transaction, the vice president now directly owns 47,240 shares of the company’s stock, valued at $2,197,132.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Cogent Communications Holdings Inc (NASDAQ CCOI) remained flat at $$46.85 on Friday. The stock had a trading volume of 419,306 shares, compared to its average volume of 331,783. Cogent Communications Holdings Inc has a 52 week low of $35.75 and a 52 week high of $54.85. The firm has a market cap of $2,150.00, a P/E ratio of 131.11, a price-to-earnings-growth ratio of 12.31 and a beta of 0.65. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of -8.84.
Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cogent Communications had a negative return on equity of 23.86% and a net margin of 3.37%. The company had revenue of $123.00 million for the quarter, compared to the consensus estimate of $123.60 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue was up 8.8% on a year-over-year basis. equities analysts forecast that Cogent Communications Holdings Inc will post 0.38 EPS for the current year.
Several research firms have recently weighed in on CCOI. Royal Bank Of Canada upped their price objective on Cogent Communications from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Zacks Investment Research cut Cogent Communications from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. BidaskClub cut Cogent Communications from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Cowen reaffirmed a “hold” rating and set a $46.00 price objective on shares of Cogent Communications in a research report on Friday, August 4th. Finally, Raymond James Financial reaffirmed an “underperform” rating on shares of Cogent Communications in a research report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.77.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCOI. Public Employees Retirement System of Ohio raised its stake in Cogent Communications by 1,378.7% in the third quarter. Public Employees Retirement System of Ohio now owns 6,048 shares of the technology company’s stock valued at $296,000 after buying an additional 5,639 shares during the period. DF Dent & Co. Inc. raised its stake in Cogent Communications by 28.9% in the third quarter. DF Dent & Co. Inc. now owns 35,481 shares of the technology company’s stock valued at $1,735,000 after buying an additional 7,963 shares during the period. California Public Employees Retirement System raised its stake in Cogent Communications by 4.8% in the third quarter. California Public Employees Retirement System now owns 83,762 shares of the technology company’s stock valued at $4,096,000 after buying an additional 3,862 shares during the period. Vident Investment Advisory LLC bought a new stake in Cogent Communications in the third quarter valued at approximately $482,000. Finally, Asset Management One Co. Ltd. bought a new stake in Cogent Communications in the third quarter valued at approximately $1,418,000. Institutional investors and hedge funds own 95.61% of the company’s stock.
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Cogent Communications 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.
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