A Director at Cogent Comms (NASDAQ: CCOI) is Buying Shares

By Carrie Williams

Today, a Director at Cogent Comms (NASDAQ: CCOI), Richard Liebhaber, bought shares of CCOI for $31.71K.

Following Richard Liebhaber’s last CCOI Buy transaction on February 28, 2017, the stock climbed by 5.0%. This is Liebhaber’s first Buy trade following 3 Sell transactions.

Based on Cogent Comms’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $123 million and quarterly net profit of $3.65 million. In comparison, last year the company earned revenue of $113 million and had a net profit of $3.46 million. The company has a one-year high of $54.85 and a one-year low of $37.40. CCOI’s market cap is $2.05B and the company has a P/E ratio of 124.17.

17 different firms, including BTIG and Citigroup, currently also have a Buy rating on the stock. Based on 9 analyst ratings, the analyst consensus is Hold with an average price target of $45.57, reflecting a -1.7% downside.

In the last 30 days, insiders have sold $11.66K worth of CCOI shares and purchased $31.71K worth of CCOI shares. The insider sentiment on Cogent Comms has been negative according to 75 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Cogent Communications Holdings, Inc. engages in the provision of Internet access and Internet Protocol communications services. It offers Internet access and data transport through its fiber optic, IP data-only network, along with collocation in any of its Internet data centers.