Other analysts have also issued research reports about the company. ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Wells Fargo & Co restated a “hold” rating on shares of Cogent Communications in a report on Friday. TheStreet upgraded shares of Cogent Communications from a “c+” rating to a “b-” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada raised their price target on shares of Cogent Communications from $54.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $64.40.
CCOI stock opened at $60.04 on Tuesday. The stock’s 50 day moving average price is $60.74 and its 200 day moving average price is $59.44. The firm has a market cap of $2.81 billion, a P/E ratio of 95.30, a PEG ratio of 8.90 and a beta of 0.57. Cogent Communications has a 1 year low of $42.40 and a 1 year high of $64.91.
In other news, VP Timothy G. Oneill sold 2,500 shares of Cogent Communications stock in a transaction on Monday, November 11th. The stock was sold at an average price of $63.29, for a total value of $158,225.00. Following the completion of the sale, the vice president now owns 34,752 shares of the company’s stock, valued at $2,199,454.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 5,000 shares of Cogent Communications stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $61.74, for a total value of $308,700.00. Following the completion of the sale, the chief financial officer now directly owns 62,550 shares of the company’s stock, valued at approximately $3,861,837. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,670 shares of company stock worth $1,094,164. Corporate insiders own 10.17% of the company’s stock.
A number of large investors have recently modified their holdings of CCOI. Usca Ria LLC purchased a new position in shares of Cogent Communications during the 3rd quarter worth about $27,000. Point72 Asset Management L.P. acquired a new stake in shares of Cogent Communications in the second quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Cogent Communications in the third quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its holdings in Cogent Communications by 4,287.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,448 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,415 shares during the period. Finally, Advisor Group Inc. grew its holdings in Cogent Communications by 22.4% in the second quarter. Advisor Group Inc. now owns 2,359 shares of the technology company’s stock valued at $141,000 after purchasing an additional 432 shares during the period. 85.14% of the stock is currently owned by hedge funds and other institutional investors.
About Cogent Communications
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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