Cogent Communications Holdings Inc (NASDAQ:CCOI) CFO Thaddeus Gerard Weed sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $45.17, for a total value of $271,020.00. Following the completion of the sale, the chief financial officer now directly owns 81,050 shares of the company’s stock, valued at approximately $3,661,028.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Cogent Communications Holdings Inc (NASDAQ CCOI) traded up $0.70 on Monday, reaching $45.75. The company had a trading volume of 235,425 shares, compared to its average volume of 298,740. Cogent Communications Holdings Inc has a 12-month low of $35.75 and a 12-month high of $54.85. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of -6.93. The firm has a market cap of $2,080.00, a price-to-earnings ratio of 120.39, a P/E/G ratio of 6.04 and a beta of 0.53.
Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Cogent Communications had a negative return on equity of 21.64% and a net margin of 1.21%. The company had revenue of $125.20 million during the quarter, compared to analyst estimates of $126.27 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. research analysts expect that Cogent Communications Holdings Inc will post 0.75 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in Cogent Communications by 14.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,775,300 shares of the technology company’s stock worth $125,721,000 after purchasing an additional 354,800 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Cogent Communications by 25.3% during the third quarter. Jennison Associates LLC now owns 2,340,837 shares of the technology company’s stock worth $114,467,000 after buying an additional 473,088 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Cogent Communications by 16.6% during the fourth quarter. First Trust Advisors LP now owns 1,447,822 shares of the technology company’s stock worth $65,586,000 after buying an additional 206,001 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cogent Communications by 8.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 595,459 shares of the technology company’s stock worth $26,975,000 after buying an additional 46,215 shares during the last quarter. Finally, Boston Financial Mangement LLC lifted its holdings in shares of Cogent Communications by 4.5% during the fourth quarter. Boston Financial Mangement LLC now owns 376,031 shares of the technology company’s stock worth $17,034,000 after buying an additional 16,261 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.
Several equities research analysts recently commented on the company. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, January 15th. Finally, Deutsche Bank lowered their price target on Cogent Communications from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $44.11.
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About Cogent Communications
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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