Cogent Communications Holdings, Inc. (CCOI) Stake Increased by BlackRock Institutional Trust Company N.A.

Cogent Communications Holdings, Inc. (CCOI) Stake Increased by BlackRock Institutional Trust Company N.A.

BlackRock Institutional Trust Company N.A. boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,019,877 shares of the company’s stock after buying an additional 23,587 shares during the period. BlackRock Institutional Trust Company N.A. owned 2.29% of Cogent Communications Holdings worth $37,542,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Cogent Communications Holdings during the second quarter worth about $7,444,000. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Cogent Communications Holdings by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock worth $142,000 after buying an additional 1,886 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Cogent Communications Holdings during the second quarter worth about $1,445,000. Airain ltd purchased a new stake in shares of Cogent Communications Holdings during the second quarter worth about $702,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cogent Communications Holdings by 5,084.6% in the second quarter. JPMorgan Chase & Co. now owns 11,821 shares of the company’s stock worth $474,000 after buying an additional 11,593 shares during the period. Institutional investors and hedge funds own 97.07% of the company’s stock.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) traded up 0.84% on Friday, reaching $42.15. 239,054 shares of the company traded hands. Cogent Communications Holdings, Inc. has a one year low of $30.62 and a one year high of $43.61. The stock has a market capitalization of $1.88 billion, a PE ratio of 139.11 and a beta of 0.84. The firm has a 50 day moving average of $41.56 and a 200-day moving average of $38.71.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Cogent Communications Holdings had a negative return on equity of 53.79% and a net margin of 3.10%. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $113.25 million. During the same period in the prior year, the company earned $0.07 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Cogent Communications Holdings, Inc. will post $0.37 EPS for the current year.

A number of equities research analysts recently issued reports on CCOI shares. Zacks Investment Research cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. William Blair reiterated an “outperform” rating on shares of Cogent Communications Holdings in a research report on Friday, October 14th. Off Wall Street restated a “sell” rating on shares of Cogent Communications Holdings in a research report on Friday, November 4th. TheStreet upgraded shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a research report on Friday, November 25th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Cogent Communications Holdings in a research report on Monday, December 12th. They issued a “buy” rating and a $43.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.50.

In other news, CFO Thaddeus Gerard Weed sold 5,000 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $42.50, for a total value of $212,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Raymond B. Kummer sold 1,000 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $42.53, for a total transaction of $42,530.00. The disclosure for this sale can be found here. Insiders sold 37,800 shares of company stock valued at $1,533,598 in the last three months. Company insiders own 9.17% 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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