Emerald Advisers Inc. PA trimmed its stake in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,807 shares of the technology company’s stock after selling 9,890 shares during the period. Emerald Advisers Inc. PA owned about 0.65% of Cogent Communications worth $16,785,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. grew its holdings in Cogent Communications by 29.7% during the first quarter. Sei Investments Co. now owns 5,344 shares of the technology company’s stock worth $232,000 after acquiring an additional 1,223 shares during the period. Captrust Financial Advisors acquired a new stake in Cogent Communications during the second quarter worth about $266,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Cogent Communications during the second quarter worth about $311,000. Perigon Wealth Management LLC acquired a new stake in Cogent Communications during the second quarter worth about $332,000. Finally, GSA Capital Partners LLP acquired a new stake in Cogent Communications during the second quarter worth about $374,000. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on CCOI. BidaskClub lowered Cogent Communications from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Zacks Investment Research lowered Cogent Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. William Blair reissued an “outperform” rating on shares of Cogent Communications in a report on Monday, October 8th. Finally, Guggenheim reissued a “hold” rating and issued a $47.00 price objective on shares of Cogent Communications in a report on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.88.
Shares of CCOI opened at $51.98 on Thursday. Cogent Communications Holdings Inc has a 12 month low of $35.75 and a 12 month high of $57.65. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 136.79, a price-to-earnings-growth ratio of 8.09 and a beta of 0.59.
Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). Cogent Communications had a net margin of 2.13% and a negative return on equity of 22.38%. The business had revenue of $129.30 million during the quarter, compared to analyst estimates of $131.13 million. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Cogent Communications Holdings Inc will post 0.64 EPS for the current year.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia.
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