Mike Slessor Sells 14,835 Shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) Stock
Cogent Communications Holdings Inc (NASDAQ:CCOI) CEO Mike Slessor sold 14,835 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $18.03, for a total transaction of $267,475.05.
Shares of NASDAQ CCOI traded up $1.15 during midday trading on Wednesday, hitting $60.14. 1,981 shares of the stock traded hands, compared to its average volume of 188,148. Cogent Communications Holdings Inc has a one year low of $42.40 and a one year high of $64.24. The business has a 50 day moving average price of $60.16 and a two-hundred day moving average price of $57.38. The company has a market cap of $2.75 billion, a PE ratio of 94.25, a P/E/G ratio of 9.56 and a beta of 0.58.
Cogent Communications (NASDAQ:CCOI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Cogent Communications had a negative return on equity of 20.58% and a net margin of 5.97%. The firm had revenue of $134.79 million during the quarter, compared to the consensus estimate of $136.12 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Cogent Communications’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts predict that Cogent Communications Holdings Inc will post 0.77 earnings per share for the current fiscal year.
CCOI has been the topic of several research analyst reports. Credit Suisse Group started coverage on shares of Cogent Communications in a research note on Friday, May 31st. They set an “outperform” rating and a $68.00 target price on the stock. ValuEngine downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Wells Fargo & Co reiterated a “hold” rating on shares of Cogent Communications in a report on Friday, August 9th. BidaskClub raised shares of Cogent Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Finally, TheStreet cut shares of Cogent Communications from a “b” rating to a “c+” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Cogent Communications presently has an average rating of “Hold” and a consensus price target of $58.17.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Cogent Communications by 1.6% during the second quarter. BlackRock Inc. now owns 6,826,740 shares of the technology company’s stock valued at $405,235,000 after buying an additional 105,911 shares during the last quarter. Vanguard Group Inc. lifted its position in Cogent Communications by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,710,776 shares of the technology company’s stock valued at $279,631,000 after acquiring an additional 86,496 shares in the last quarter. Renaissance Technologies LLC lifted its position in Cogent Communications by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,423,700 shares of the technology company’s stock valued at $203,231,000 after acquiring an additional 47,300 shares in the last quarter. First Trust Advisors LP lifted its position in Cogent Communications by 3.4% in the 1st quarter. First Trust Advisors LP now owns 1,785,559 shares of the technology company’s stock valued at $96,867,000 after acquiring an additional 59,007 shares in the last quarter. Finally, FMR LLC boosted its stake in Cogent Communications by 33.2% during the 1st quarter. FMR LLC now owns 1,488,748 shares of the technology company’s stock valued at $80,764,000 after purchasing an additional 370,945 shares during the last quarter. Hedge funds and other institutional investors own 87.80% of the company’s stock.
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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