Insider Selling: Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Sells $158,225.00 in Stock
Cogent Communications Holdings Inc (NASDAQ:CCOI) VP Timothy G. Oneill sold 2,500 shares of the 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 transaction, the vice president now owns 34,752 shares of the company’s stock, valued at $2,199,454.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Cogent Communications stock opened at $62.80 on Friday. The stock has a fifty day moving average price of $57.48 and a two-hundred day moving average price of $58.73. Cogent Communications Holdings Inc has a 52-week low of $42.40 and a 52-week high of $64.91. The firm has a market capitalization of $3.04 billion, a P/E ratio of 99.68, a P/E/G ratio of 9.37 and a beta of 0.56.
Cogent Communications (NASDAQ:CCOI) last announced its earnings results on Thursday, November 7th. The technology company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 period last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Cogent Communications Holdings Inc will post 0.87 EPS for the current fiscal year.
Several research analysts have issued reports on CCOI shares. Royal Bank of Canada increased their price objective on Cogent Communications from $54.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Zacks Investment Research lowered Cogent Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. BidaskClub upgraded Cogent Communications from a “hold” rating to a “buy” rating in a research note on Wednesday. ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Cogent Communications from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $63.83.
Large investors have recently made changes to their positions in the company. Strs Ohio increased its stake in shares of Cogent Communications by 1,150.0% in the second quarter. Strs Ohio now owns 2,500 shares of the technology company’s stock valued at $148,000 after buying an additional 2,300 shares in the last quarter. Brookstone Capital Management bought a new position in Cogent Communications in the second quarter valued at about $423,000. KBC Group NV bought a new position in Cogent Communications in the second quarter valued at about $148,000. NN Investment Partners Holdings N.V. bought a new position in Cogent Communications in the second quarter valued at about $253,000. Finally, Aperio Group LLC boosted its holdings in Cogent Communications by 17.7% in the second quarter. Aperio Group LLC now owns 25,356 shares of the technology company’s stock valued at $1,505,000 after acquiring an additional 3,818 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.
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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