Personal Capital Advisors Corp lowered its stake in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,959 shares of the technology company’s stock after selling 3,974 shares during the quarter. Personal Capital Advisors Corp owned about 0.54% of Cogent Communications worth $11,278,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Pinebridge Investments L.P. grew its holdings in shares of Cogent Communications by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,395 shares of the technology company’s stock worth $217,000 after purchasing an additional 53 shares during the period. Laurion Capital Management LP grew its holdings in shares of Cogent Communications by 1.3% during the 2nd quarter. Laurion Capital Management LP now owns 8,000 shares of the technology company’s stock worth $321,000 after purchasing an additional 100 shares during the period. Amalgamated Bank grew its holdings in shares of Cogent Communications by 4.8% during the 2nd quarter. Amalgamated Bank now owns 5,756 shares of the technology company’s stock worth $231,000 after purchasing an additional 265 shares during the period. Teachers Advisors LLC grew its holdings in shares of Cogent Communications by 0.9% during the 2nd quarter. Teachers Advisors LLC now owns 76,177 shares of the technology company’s stock worth $3,055,000 after purchasing an additional 650 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in shares of Cogent Communications by 63.4% during the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,024 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.
A number of analysts have recently issued reports on CCOI shares. Deutsche Bank boosted their target price on Cogent Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research upgraded Cogent Communications from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Monday, October 9th. BidaskClub upgraded Cogent Communications from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Jefferies Group boosted their target price on Cogent Communications from $39.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Finally, SunTrust Banks cut Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Friday, November 3rd. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.18.
Cogent Communications Holdings Inc (CCOI) opened at $44.50 on Friday. The firm has a market capitalization of $2,031.21, a P/E ratio of 123.61, a price-to-earnings-growth ratio of 6.25 and a beta of 0.58. Cogent Communications Holdings Inc has a fifty-two week low of $37.85 and a fifty-two week high of $54.85. The company has a debt-to-equity ratio of -8.84, a current ratio of 4.22 and a quick ratio of 4.22.
Cogent Communications (NASDAQ:CCOI) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.06). The company had revenue of $123.00 million during the quarter, compared to analysts’ expectations of $123.60 million. Cogent Communications had a negative return on equity of 23.86% and a net margin of 3.37%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 EPS. equities analysts forecast that Cogent Communications Holdings Inc will post 0.38 earnings per share for the current year.
In other news, VP Robert N. Beury, Jr. sold 3,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.51, for a total transaction of $139,530.00. Following the completion of the transaction, the vice president now directly owns 47,240 shares in the company, valued at approximately $2,197,132.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marc Montagner sold 5,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $47.00, for a total value of $235,000.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $1,880,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,250 shares of company stock valued at $611,435. 9.48% of the stock is owned by company insiders.
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Cogent Communications Company Profile
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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