Renaissance Technologies LLC Buys A Lot More Cogent Communications Holdings, (CCOI) Stock

Modesto Morganelli
Agosto 12, 2017

The company posted earnings of $119.80 M for the period end, compared with brokerage expectations of $120.23 M. for the same period in the prior year, the public company disclosed $0.09 EPS. the firms sales went up 9.0% on a YOY basis. experts expect that Cogent Communications Holdings, to post $0.48 earnings per share for the full year. (NYSE:LLL) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).

The company is now up since yesterday's close of $43.6. US Bancorp DE's holdings in L-3 Communications Holdings were worth $2,453,000 as of its most recent filing with the SEC.

A number of institutional investors have recently modified their holdings of the company. The value of the investment in CCOI increased from $5,545,000 to $8,559,000 a change of $3,014,000 for the reporting period. State of Alaska Department of Revenue increased its stake in shares of Consolidated Communications Holdings by 2.0% in the first quarter. Its stake was valued at $82,550,000 an increase of $4,479,000 as of the end of the quarter.

Renaissance Technologies LLC reports that it bought 245,100 shares in quarter ending 06/30/2017 increasing its exposure to Cogent Communications Holdings, by 13.5%. The business's quarterly revenue was up 9.0% compared to the same quarter previous year. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of L-3 Communications Holdings during the fourth quarter worth about $381,000. Rk Capital Management, LLC downsized its stake by selling 112,500 shares a decrease of 47.6%. Tim Weingarten, Director disclosed the sale of 2,383 shares of CCOI stock. Consolidated Communications Holdings has a 1-year low of $17.41 and a 1-year high of $30.23.

Consolidated Communications Holdings (NASDAQ CNSL) traded up 0.971% during mid-day trading on Tuesday, hitting $19.235. L-3 Communications Holdings, Inc. The firm has a market capitalization of $14.36 billion, a P/E ratio of 20.70 and a beta of 1.15.

Consolidated Communications Holdings (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.70 billion. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. The shares were sold at an average price of $173.49, for a total value of $3,911,679.03.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.84 annualized dividend and a yield of 4.22%. L-3 Communications Holdings's payout ratio is 33.82%. Finally, Rothschild Asset Management Inc. raised its position in L-3 Communications Holdings by 5.7% in the second quarter. This repurchase authorization permits the aerospace company to buy up to 11.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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A number of equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Cogent Communications Holdings from a hold rating to a sell rating in a research report on Friday, August 4th. (The) raised shares of L-3 Communications Holdings from a "buy" rating to a "conviction-buy" rating and lifted their price objective for the stock from $195.00 to $204.00 in a report on Monday. (NASDAQ:CNSL) was downgraded by investment analysts at BidaskClub from a "buy" rating to a "hold" rating in a research note issued on Tuesday, July 11th. Finally, Deutsche Bank AG raised their price target on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company's stock. The stock has a consensus rating of "Hold" and a consensus price target of $25.60. Also, VP Robert N. Beury, Jr. sold 3,000 shares of Cogent Communications Holdings stock in a transaction on Thursday, June 1st. The stock was purchased at an average cost of $19.33 per share, for a total transaction of $96,650.00. State Street Corp now owns 3,677,881 shares of the aerospace company's stock worth $607,919,000 after buying an additional 132,410 shares in the last quarter. Corporate insiders own 3.00% of the company's stock.

L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems.

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