Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our sole class of common equity is our common stock, par value $0.001, which is currently traded on the NASDAQ Global Select Market under the symbol “CCOI.” Prior to March 6, 2006, our common stock traded on the American Stock Exchange under the symbol “COI.” Prior to February 5, 2002, no established public trading market for our common stock existed.
As of February 1, 2021, there were 127 holders of record of shares of our common stock holding 46,042,876 shares of our common stock.
Performance Graph
Our common stock currently trades on the NASDAQ Global Select Market. The chart below compares the relative changes in the cumulative total return of our common stock for the period from December 31, 2015 to December 31, 2020, against the cumulative total return for the same period of the (1) The Standard & Poor’s 500 (S&P 500) Index and (2) the NASDAQ Telecommunications Index. The comparison below assumes $100 was invested on December 31, 2015 in our common stock, the S&P 500 Index and the NASDAQ Telecommunications Index, with dividends, if any, reinvested.
12/15
12/16
12/17
12/18
12/19
12/20
Cogent Communications Holdings
100.00
124.10
141.85
147.82
224.53
212.68
S&P 500
100.00
111.96
136.40
130.42
171.49
203.04
NASDAQ Telecommunications
100.00
112.56
135.96
125.10
158.73
192.30
The stock price performance included in this graph is not necessarily indicative of future stock price performance.
Issuer Purchases of Equity Securities
Our Board of Directors authorized a plan to permit the repurchase of up to $50.0 million of our common stock in negotiated and open market transactions through December 31, 2021. As of December 31, 2020, $30.4 million remained available for such negotiated and open market transactions concerning our common stock. We may purchase shares from time to time depending on market, economic, and other factors.
The following table summarizes our common stock repurchases during the fourth quarter of 2020 made pursuant to this authorization. During the quarter, we did not purchase shares outside of this program, and all purchases were made by or on behalf of the Company and not by any "affiliated purchaser" (as defined by Rule 10b-18 under the Exchange Act).
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Issuer Purchases of Equity Securities
Total Number
Approximate
Total
of Shares
Dollar Value of
Number of
Purchased as Part of
Shares
Shares
Average Price
Publicly Announced
that May Yet Be Purchased
Period
Purchased
Paid per Share
Plans or Programs
Under the Plans or Programs
October 1-31, 2020
51,016
$
57.37
51,016
$
31,708,066
November 1-30, 2020
20,000
$
55.08
20,000
$
30,606,473
December 1-31, 2020
3,473
$
56.60
3,473
$
30,409,902
Total
74,489
$
56.72
74,489
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