Today: The Cogent Communications Group Inc. (CCOI) Receives Outperform Rating from William Blair

The Cogent Communications Group Inc. (CCOI) Receives Outperform Rating from William Blair

William Blair reiterated their outperform rating on shares of Cogent Communications Group Inc. (NASDAQ:CCOI) in a research report sent to investors on Friday.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Cogent Communications Group from a hold rating to a sell rating in a report on Wednesday, October 5th. JPMorgan Chase & Co. started coverage on Cogent Communications Group in a report on Monday, September 26th. They set a neutral rating on the stock. TheStreet cut Cogent Communications Group from a buy rating to a hold rating in a report on Monday, August 22nd. Citigroup Inc. cut their price target on Cogent Communications Group from $45.00 to $41.00 and set a neutral rating on the stock in a report on Friday, August 12th. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $45.00 price target on shares of Cogent Communications Group in a report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $42.70.

Cogent Communications Group (NASDAQ:CCOI) traded up 0.20% during midday trading on Friday, reaching $35.11. The company had a trading volume of 58,963 shares. The company’s 50 day moving average is $35.91 and its 200-day moving average is $38.65. The company has a market capitalization of $1.56 billion, a P/E ratio of 118.61 and a beta of 0.98. Cogent Communications Group has a 52-week low of $29.20 and a 52-week high of $43.61.

Cogent Communications Group (NASDAQ:CCOI) last issued its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. Cogent Communications Group had a net margin of 3.10% and a negative return on equity of 89.73%. The firm had revenue of $110 million for the quarter, compared to analysts’ expectations of $110.88 million. During the same quarter last year, the company posted $0.02 earnings per share. Cogent Communications Group’s revenue was up 11.3% on a year-over-year basis. Equities analysts expect that Cogent Communications Group will post $0.40 earnings per share for the current fiscal year.

In other Cogent Communications Group news, Director Tim Weingarten sold 2,822 shares of Cogent Communications Group stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $35.57, for a total value of $100,378.54. Following the transaction, the director now owns 21,479 shares in the company, valued at $764,008.03. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Henry W. Kilmer sold 1,000 shares of Cogent Communications Group stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $35.17, for a total transaction of $35,170.00. The disclosure for this sale can be found here. 9.17% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CCOI. BlackRock Inc. boosted its position in Cogent Communications Group by 115.5% in the first quarter. BlackRock Inc. now owns 3,205 shares of the company’s stock valued at $126,000 after buying an additional 1,718 shares during the last quarter. US Bancorp DE boosted its position in Cogent Communications Group by 2.8% in the second quarter. US Bancorp DE now owns 3,427 shares of the company’s stock valued at $137,000 after buying an additional 93 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Cogent Communications Group by 113.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,546 shares of the company’s stock valued at $142,000 after buying an additional 1,886 shares during the last quarter. Riverhead Capital Management LLC purchased a new position in Cogent Communications Group during the first quarter valued at $165,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Cogent Communications Group by 306.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,025 shares of the company’s stock valued at $201,000 after buying an additional 3,790 shares during the last quarter. Hedge funds and other institutional investors own 98.09% of the company’s stock.

About Cogent Communications Group

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