The stock last traded at $42.05 which is slightly above $39.89, the stock’s 50 day moving average and which is just over the 200 day moving average of $41.55. The 50 day moving average was up by +5.42% and the 200 day average was up $0.50. 812K shares changed hands by the end of trading on Thursday. Trading volume was up 118.62% over the stocks average daily volume.
Investors are a little more bearish on shares of the company of late if you consider the rise in short interest. The stock realized a rise in short interest of 6.42% as of the latest report on May 31, 2017. Short interest increased from 2,551,906 to 2,715,808 over that timeframe. The short-interest ratio increased to 10.7 and the short interest percentage is 0.06% as of May 31.
Cogent Communications Holdings, (NASDAQ:CCOI) has been the object of insider selling activity recently. Tim Weingarten, Director sold $95,677 worth of shares at an average price of $40.15 on Fri the 16th. The Director now owns $789,028 of the stock per an SEC filing yesterday. VP Henry W. Kilmer let go of 3,000 shares at an average price of $40.80 on June 5th. Kilmer now owns $1,615,680 of stock as reported to the SEC.
VP Thaddeus Gerard Weed sold 2,250 shares at an average price of $41.20 on Fri the 2nd. That brings the VP’s holdings to $3,178,580 as recorded in a recent Form 4 SEC filing.
These firms have also modified their investment in CCOI. Creative Planning reduced its investment by shedding 213 shares a decrease of 12.4% as of 06/30/2017. Creative Planning controls 1,503 shares worth $60,000. The total value of its holdings decreased 18.9%. As of quarter end Capstone Asset Management Co had sold 500 shares trimming its holdings by 5.1%. The value of the investment in Cogent Communications Holdings, decreased from $426,000 to $376,000 a change of $50,000 since the last quarter.
As of the end of the quarter Morgan Stanley had disposed of a total of 228 shares trimming its stake by 5.7%. The value of the investment in CCOI went from $164,000 to $161,000 a change of 1.8% quarter over quarter. Tower Research Capital LLC (trc) cut its position by selling 609 shares a decrease of 98.4% from 06/30/2016 to 03/31/2017. Tower Research Capital LLC (trc) now holds 10 shares valued at $0. The value of the position overall is down by 100.0%.
Equity analyst JP Morgan initiated coverage with an initial rating of “Neutral”. Equity analyst Citigroup both downgraded the stock and raised the price target on April 6 changing the price target from $38.08 to $40.00 and cutting the rating from “Buy” to “Neutral”.
On April 6 the company was downgraded to “Neutral” from “Buy” and a price target of $40.00 was set by Citigroup. On March 4 the company was rated “Neutral” in a report from Moffett Nathanson down from the previous “Buy” rating.
On February 26 Pacific Crest kept the company rating at “Overweight” and raised the price target to $45.00 from $42.00. On February 23 the stock rating was downgraded from “Overweight” to “Neutral” in an announcement from JP Morgan.
The company is up by 2.69% since yesterday’s close of $40.95. Additionally Cogent Communications Holdings, announced a dividend for shareholders that was paid on Friday June 2nd, 2017. The dividend payment was $0.440 per share for the quarter or $1.76 annualized. This dividend amount represented a yeild of $4.30. The ex-dividend date was Tuesday the 16th of May 2017.
Cogent Communications Holdings, currently has a P/E ratio of 123.68 and the market value is 1.88B. In the last earnings report the EPS was $0.34 and is expected to be $0.52 for the current year with 44,654,000 shares currently outstanding. Next quarter’s EPS is expected be $0.15 and the next full year EPS is anticipated to be $0.84.
Cogent Communications Holdings, Inc., launched on April 17, 2014, is a facility-based provider of Internet access and Internet Protocol (IP) communications services. The Business’s network is designed and optimized to transmit data using IP. The Company delivers its services to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and Asia. The Company offers on-net Internet access services through its own facilities, which run from its network to its customers’ premises. The Company offers its on-net services to customers located in buildings that are physically connected to its network. Its on-net service consists of Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. It provides its on-net Internet access services to its net-centric and corporate customers..