Cogent Communications Holdings Inc (NASDAQ:CCOI) Director Lewis H. Ferguson sold 515 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $57.45, for a total transaction of $29,586.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of CCOI stock traded up $0.62 during trading on Friday, hitting $57.78. The company had a trading volume of 239,001 shares, compared to its average volume of 257,213. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 91.71, a price-to-earnings-growth ratio of 8.29 and a beta of 0.70. Cogent Communications Holdings Inc has a 52 week low of $42.40 and a 52 week high of $58.72.
Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $134.20 million for the quarter, compared to analysts’ expectations of $135.21 million. Cogent Communications had a net margin of 5.92% and a negative return on equity of 22.47%. Cogent Communications’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Equities analysts anticipate that Cogent Communications Holdings Inc will post 0.87 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in Cogent Communications during the fourth quarter valued at approximately $21,046,000. WINTON GROUP Ltd grew its position in Cogent Communications by 1,855.1% during the fourth quarter. WINTON GROUP Ltd now owns 440,481 shares of the technology company’s stock valued at $19,914,000 after acquiring an additional 417,951 shares during the last quarter. FMR LLC grew its position in Cogent Communications by 33.2% during the first quarter. FMR LLC now owns 1,488,748 shares of the technology company’s stock valued at $80,764,000 after acquiring an additional 370,945 shares during the last quarter. BlackRock Inc. grew its position in Cogent Communications by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,865,395 shares of the technology company’s stock valued at $310,385,000 after acquiring an additional 210,635 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cogent Communications by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 702,367 shares of the technology company’s stock valued at $38,103,000 after acquiring an additional 189,118 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.
A number of equities research analysts have recently issued reports on CCOI shares. Royal Bank of Canada increased their price target on shares of Cogent Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, February 25th. BidaskClub cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research report on Friday, February 8th. ValuEngine cut shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Cogent Communications from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Oppenheimer cut shares of Cogent Communications from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Cogent Communications presently has a consensus rating of “Hold” and an average price target of $50.14.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
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