Cogent Communications Group Inc. (NASDAQ:CCOI)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $43.55 and last traded at $42.63, with a volume of 111,821 shares traded. The stock had previously closed at $42.72.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Cogent Communications Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. 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. Finally, Citigroup Inc. downgraded shares of Cogent Communications Group from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $38.00 to $40.00 in a report on Wednesday, April 6th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.88.

The company has a market cap of $1.90 billion and a price-to-earnings ratio of 194.00. The firm’s 50 day moving average price is $40.44 and its 200 day moving average price is $37.25.

Cogent Communications Group (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $108.30 million for the quarter, compared to analyst estimates of $108.05 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Cogent Communications Group Inc. will post $0.44 EPS for the current year.

In other news, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $38.90, for a total transaction of $38,900.00. Following the sale, the vice president now directly owns 33,452 shares in the company, valued at $1,301,282.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thaddeus Gerard Weed sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $40.07, for a total value of $200,350.00. Following the sale, the chief financial officer now owns 94,250 shares in the company, valued at $3,776,597.50. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in 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. Brown Advisory Inc. boosted its stake in Cogent Communications Group by 3.6% in the fourth quarter. Brown Advisory Inc. now owns 1,309,785 shares of the company’s stock worth $45,436,000 after buying an additional 45,029 shares in the last quarter. Advisors Asset Management Inc. boosted its stake 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 in the last quarter. Century Capital Management LLC boosted its stake 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 in the last quarter. Finally, Bank of Montreal Can boosted its stake 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 in the last quarter.

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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