Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 4.3% during the fourth quarter, HoldingsChannel reports. The firm owned 6,501 shares of the technology company’s stock after selling 291 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cogent Communications were worth $501,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Cogent Communications in the third quarter valued at $30,000. Blue Trust Inc. raised its holdings in Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after acquiring an additional 272 shares in the last quarter. Quest Partners LLC acquired a new stake in Cogent Communications in the third quarter valued at $46,000. GAMMA Investing LLC raised its holdings in Cogent Communications by 207.0% in the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company’s stock valued at $50,000 after acquiring an additional 445 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Cogent Communications by 127.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after acquiring an additional 441 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cogent Communications has a consensus rating of “Hold” and an average target price of $80.25.

Cogent Communications Stock Up 1.0 %

CCOI stock opened at $80.39 on Monday. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The firm has a fifty day moving average price of $75.74 and a two-hundred day moving average price of $75.91. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 103.06 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last released its earnings results on Thursday, November 7th. The technology company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The firm had revenue of $257.20 million during the quarter, compared to analyst estimates of $258.69 million. During the same quarter in the previous year, the firm earned ($1.13) earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts predict that Cogent Communications Holdings, Inc. will post -4.55 EPS for the current year.

Insider Transactions at Cogent Communications

In other news, VP Henry W. Kilmer sold 4,800 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following the completion of the transaction, the vice president now owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John B. Chang sold 2,280 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $80.41, for a total transaction of $183,334.80. Following the transaction, the vice president now owns 69,300 shares of the company’s stock, valued at $5,572,413. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,786 shares of company stock worth $1,830,966. Insiders own 11.40% of the company’s stock.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.