Capital Insight Partners LLC grew its stake in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,089 shares of the technology company’s stock after buying an additional 292 shares during the period. Capital Insight Partners LLC owned 0.05% of Cogent Communications worth $1,585,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Usca Ria LLC bought a new position in shares of Cogent Communications in the third quarter worth approximately $27,000. Point72 Asset Management L.P. bought a new position in shares of Cogent Communications in the second quarter worth approximately $30,000. Global Retirement Partners LLC bought a new position in shares of Cogent Communications in the fourth quarter worth approximately $33,000. Carroll Financial Associates Inc. bought a new position in shares of Cogent Communications in the fourth quarter worth approximately $42,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Cogent Communications in the third quarter worth approximately $39,000. Institutional investors own 84.08% of the company’s stock.
In other Cogent Communications news, VP Timothy G. Oneill sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $67.42, for a total value of $134,840.00. Following the transaction, the vice president now directly owns 29,752 shares of the company’s stock, valued at $2,005,879.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $62.60, for a total value of $62,600.00. Following the completion of the transaction, the vice president now directly owns 33,752 shares in the company, valued at $2,112,875.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,524 shares of company stock valued at $1,285,332. 10.17% of the stock is owned by corporate insiders.
CCOI stock traded up $0.26 on Monday, reaching $73.13. The company’s stock had a trading volume of 81,129 shares, compared to its average volume of 236,633. The business has a fifty day simple moving average of $66.87 and a two-hundred day simple moving average of $61.33. Cogent Communications Holdings Inc has a 12-month low of $45.97 and a 12-month high of $74.04. The firm has a market cap of $3.42 billion, a PE ratio of 89.18, a PEG ratio of 9.52 and a beta of 0.58.
Cogent Communications (NASDAQ:CCOI) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. Cogent Communications had a negative return on equity of 21.84% and a net margin of 6.91%. The company had revenue of $136.94 million during the quarter, compared to analyst estimates of $136.50 million. During the same quarter last year, the firm posted $0.18 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Cogent Communications Holdings Inc will post 0.87 EPS for the current year.
Several analysts have issued reports on the company. Wells Fargo & Co reaffirmed a “hold” rating on shares of Cogent Communications in a research note on Friday, December 6th. Zacks Investment Research raised Cogent Communications from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, January 8th. Citigroup raised Cogent Communications from a “sell” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $68.00 in a research note on Thursday, January 2nd. Royal Bank of Canada increased their price objective on Cogent Communications from $54.00 to $65.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 13th. Finally, ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $68.00.
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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