Shares of Cogent Communications Group Inc. (NASDAQ:CCOI) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $42.09 and last traded at $42.05, with a volume of 343,531 shares changing hands. The stock had previously closed at $40.62.

A number of analysts have issued reports on CCOI shares. Off Wall Street assumed coverage on shares of Cogent Communications Group in a report on Monday, June 20th. They issued a “sell” rating for the company. Zacks Investment Research cut shares of Cogent Communications Group from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Citigroup Inc. cut shares of Cogent Communications Group from a “buy” rating to a “neutral” rating and boosted their target price for the company from $38.00 to $40.00 in a research report on Wednesday, April 6th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Cogent Communications Group presently has an average rating of “Hold” and a consensus target price of $40.88.

The company has a market capitalization of $1.87 billion and a price-to-earnings ratio of 191.14. The stock has a 50-day moving average price of $39.99 and a 200-day moving average price of $37.04.

Cogent Communications Group (NASDAQ:CCOI) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $108.30 million for the quarter, compared to analysts’ expectations of $108.05 million. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. On average, equities analysts anticipate that Cogent Communications Group Inc. will post $0.43 earnings per share for the current year.

In other Cogent Communications Group news, Director Marc Montagner sold 10,000 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $39.23, for a total transaction of $392,300.00. Following the completion of the transaction, the director now owns 34,250 shares in the company, valued at $1,343,627.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Henry W. Kilmer sold 1,000 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $40.30, for a total transaction of $40,300.00. The disclosure for this sale can be found here.

Other institutional investors have modified their holdings of the company. Jennison Associates LLC raised its position in shares of Cogent Communications Group by 82.6% in the fourth quarter. Jennison Associates LLC now owns 1,376,835 shares of the company’s stock worth $47,762,000 after buying an additional 622,688 shares in the last quarter. Century Capital Management LLC raised its position in Cogent Communications Group by 314.7% in the fourth quarter. Century Capital Management LLC now owns 216,074 shares of the company’s stock worth $7,496,000 after buying an additional 163,976 shares during the period. Bank of Montreal Can raised its position in Cogent Communications Group by 22,554.4% in the fourth quarter. Bank of Montreal Can now owns 119,162 shares of the company’s stock worth $4,133,000 after buying an additional 118,636 shares during the period. Advisors Asset Management Inc. raised its position in Cogent Communications Group by 55.3% in the fourth quarter. Advisors Asset Management Inc. now owns 223,008 shares of the company’s stock worth $7,736,000 after buying an additional 79,389 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Cogent Communications Group by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,027,799 shares of the company’s stock worth $35,654,000 after buying an additional 60,996 shares during the period.

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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