Shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) reached a new 52-week high on Monday . The company traded as high as $43.61 and last traded at $43.46, with a volume of 249,933 shares changing hands. The stock had previously closed at $42.73.

A number of analysts have recently weighed in on CCOI shares. Zacks Investment Research cut shares of Cogent Communications Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Off Wall Street started coverage on shares of Cogent Communications Holdings in a report on Monday, June 20th. They issued a “sell” rating on the stock. Finally, Citigroup Inc. cut shares of Cogent Communications Holdings from a “buy” rating to a “neutral” rating and raised their price target for the company from $38.00 to $40.00 in a report on Wednesday, April 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Cogent Communications Holdings presently has an average rating of “Hold” and a consensus price target of $42.33.

The firm has a market capitalization of $1.93 billion and a P/E ratio of 197.36. The stock has a 50-day moving average price of $41.36 and a 200-day moving average price of $38.10.

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

In other news, VP Henry W. Kilmer sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $38.57, for a total transaction of $38,570.00. Following the completion of the transaction, the vice president now directly owns 44,000 shares of the company’s stock, valued at $1,697,080. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thaddeus Gerard Weed sold 5,000 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $40.07, for a total value of $200,350.00. Following the transaction, the chief financial officer now directly owns 94,250 shares of the company’s stock, valued at $3,776,597.50. The disclosure for this sale can be found here.

Several institutional investors recently made changes to their positions in CCOI. Jennison Associates LLC increased its position in shares of Cogent Communications Holdings 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. BlackRock Advisors LLC increased its position in shares of Cogent Communications Holdings by 1,576.1% in the fourth quarter. BlackRock Advisors LLC now owns 479,040 shares of the company’s stock worth $16,618,000 after buying an additional 450,460 shares in the last quarter. Century Capital Management LLC increased its position in shares of Cogent Communications Holdings 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. Bank of Montreal Can increased its position in shares of Cogent Communications Holdings 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. Finally, Advisors Asset Management Inc. increased its position in shares of Cogent Communications Holdings 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.

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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