Legal & General Group Plc lifted its position in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,586 shares of the technology company’s stock after purchasing an additional 6,966 shares during the quarter. Legal & General Group Plc owned approximately 0.21% of Cogent Communications worth $5,512,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CCOI. SG Americas Securities LLC lifted its position in Cogent Communications by 164.9% during the second quarter. SG Americas Securities LLC now owns 9,254 shares of the technology company’s stock valued at $494,000 after buying an additional 5,760 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Cogent Communications by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 276,692 shares of the technology company’s stock valued at $14,776,000 after buying an additional 16,817 shares during the period. GSA Capital Partners LLP purchased a new position in Cogent Communications during the second quarter valued at $374,000. BlackRock Inc. raised its position in shares of Cogent Communications by 4.7% in the 2nd quarter. BlackRock Inc. now owns 6,421,881 shares of the technology company’s stock worth $342,928,000 after purchasing an additional 287,668 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Cogent Communications by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,355,882 shares of the technology company’s stock worth $72,405,000 after purchasing an additional 3,782 shares during the last quarter. 91.55% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on CCOI. BidaskClub raised Cogent Communications from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. William Blair reaffirmed an “outperform” rating on shares of Cogent Communications in a research report on Monday, October 8th. BTIG Research lowered Cogent Communications from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. Zacks Investment Research raised Cogent Communications from a “sell” rating to a “hold” rating and set a $61.00 price target for the company in a research report on Monday, October 8th. Finally, Citigroup lifted their price target on Cogent Communications from $39.00 to $42.00 and gave the stock a “sell” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.86.
Shares of NASDAQ:CCOI opened at $48.18 on Friday. Cogent Communications Holdings Inc has a fifty-two week low of $35.75 and a fifty-two week high of $57.65. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 126.79, a price-to-earnings-growth ratio of 6.35 and a beta of 0.58.
Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, November 1st. The technology company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Cogent Communications had a negative return on equity of 24.22% and a net margin of 2.99%. The business had revenue of $130.00 million during the quarter, compared to analyst estimates of $132.09 million. During the same quarter in the previous year, the firm earned $0.08 EPS. Cogent Communications’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Cogent Communications Holdings Inc will post 0.66 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Cogent Communications Holdings Inc (CCOI) Shares Bought by Legal & General Group Plc” was posted by Dakota Financial News and is owned by of Dakota Financial News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://dakotafinancialnews.com/2019/01/12/cogent-communications-holdings-inc-ccoi-shares-bought-by-legal-general-group-plc.html.
Cogent Communications Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
Further Reading: Hedge Funds Explained
Receive News & Ratings for Cogent Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications and related companies with MarketBeat.com's FREE daily email newsletter.