Goldman Sachs Group Inc. raised its stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,471 shares of the technology company’s stock after buying an additional 524 shares during the period. Goldman Sachs Group Inc. owned approximately 0.39% of Cogent Communications Holdings worth $7,511,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. LS Investment Advisors LLC increased its stake in shares of Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock valued at $111,000 after buying an additional 1,095 shares during the period. Glen Harbor Capital Management LLC increased its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Glen Harbor Capital Management LLC now owns 2,828 shares of the technology company’s stock valued at $122,000 after buying an additional 756 shares during the period. Elkfork Partners LLC increased its stake in shares of Cogent Communications Holdings by 36.5% in the first quarter. Elkfork Partners LLC now owns 3,434 shares of the technology company’s stock valued at $148,000 after buying an additional 918 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Cogent Communications Holdings during the first quarter valued at about $155,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Cogent Communications Holdings by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 4,520 shares of the technology company’s stock valued at $194,000 after buying an additional 80 shares during the period. Institutional investors own 94.51% of the company’s stock.
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) opened at 44.55 on Friday. The firm has a 50-day moving average price of $40.65 and a 200-day moving average price of $41.54. The company has a market capitalization of $1.99 billion, a P/E ratio of 131.03 and a beta of 0.73. Cogent Communications Holdings, Inc. has a 1-year low of $34.23 and a 1-year high of $45.25.
Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $117.20 million during the quarter, compared to analyst estimates of $119.02 million. Cogent Communications Holdings had a negative return on equity of 33.66% and a net margin of 3.45%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. On average, analysts forecast that Cogent Communications Holdings, Inc. will post $0.52 EPS for the current fiscal year.
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Several brokerages have issued reports on CCOI. Citigroup Inc. increased their price target on Cogent Communications Holdings from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 price target on shares of Cogent Communications Holdings in a report on Thursday, May 25th. Deutsche Bank AG began coverage on Cogent Communications Holdings in a report on Friday, March 24th. They issued a “buy” rating and a $48.00 price target for the company. BidaskClub downgraded Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, Zacks Investment Research downgraded Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $43.79.
In other Cogent Communications Holdings news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $45.05, for a total transaction of $45,050.00. Following the completion of the sale, the vice president now directly owns 35,452 shares of the company’s stock, valued at approximately $1,597,112.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Raymond B. Kummer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $44.84, for a total value of $134,520.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,183 shares of company stock valued at $754,868 over the last three months. Corporate insiders own 9.48% of the company’s stock.
Cogent Communications Holdings 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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