Cogent Communications (NASDAQ:CCOI) Stock Rating Upgraded by StockNews.com

Cogent Communications (NASDAQ:CCOI) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research note issued on Monday.

Separately, UBS Group initiated coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target for the company. 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 MarketBeat.com, Cogent Communications has an average rating of “Hold” and a consensus price target of $80.25.

Cogent Communications Stock Down 2.4 %

Shares of CCOI traded down $1.75 during mid-day trading on Monday, hitting $71.32. 710,099 shares of the company traded hands, compared to its average volume of 359,097. The company has a market capitalization of $3.50 billion, a PE ratio of 91.44 and a beta of 0.40. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The business has a 50 day moving average of $76.56 and a 200 day moving average of $77.10. Cogent Communications has a 1-year low of $50.80 and a 1-year high of $86.76.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.31. The business had revenue of $252.29 million during the quarter, compared to analysts’ expectations of $258.49 million. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. Equities research analysts anticipate that Cogent Communications will post -4.55 EPS for the current year.

Insider Activity

In related news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the completion of the transaction, the executive now directly owns 49,542 shares in the company, valued at approximately $3,794,917.20. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Henry W. Kilmer sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 8,145 shares of company stock valued at $613,968 in the last quarter. 11.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cogent Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ulysses Management LLC grew its position in shares of Cogent Communications by 9.6% in the fourth quarter. Ulysses Management LLC now owns 372,166 shares of the technology company’s stock valued at $28,683,000 after purchasing an additional 32,596 shares during the period. Turtle Creek Asset Management Inc. acquired a new position in shares of Cogent Communications during the fourth quarter valued at approximately $9,649,000. Tyro Capital Management LLC boosted its stake in shares of Cogent Communications by 20.1% in the fourth quarter. Tyro Capital Management LLC now owns 420,825 shares of the technology company’s stock worth $32,433,000 after acquiring an additional 70,521 shares during the last quarter. Shellback Capital LP purchased a new stake in shares of Cogent Communications during the fourth quarter worth approximately $9,255,000. Finally, SG Capital Management LLC increased its position in shares of Cogent Communications by 105.2% during the fourth quarter. SG Capital Management LLC now owns 201,916 shares of the technology company’s stock worth $15,562,000 after purchasing an additional 103,498 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

About Cogent Communications

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.