Dupont Capital Management Corp purchased a new stake in Cogent Communications Holdings Inc (NASDAQ:CCOI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,900 shares of the technology company’s stock, valued at approximately $630,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Flinton Capital Management LLC raised its holdings in Cogent Communications by 63.4% during the 2nd quarter. Flinton Capital Management LLC now owns 2,640 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,024 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Cogent Communications by 1,919.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock valued at $151,000 after purchasing an additional 3,589 shares during the period. Sei Investments Co. boosted its holdings in Cogent Communications by 42.4% during the 3rd quarter. Sei Investments Co. now owns 4,163 shares of the technology company’s stock worth $203,000 after acquiring an additional 1,240 shares during the last quarter. Amalgamated Bank boosted its holdings in Cogent Communications by 4.8% during the 2nd quarter. Amalgamated Bank now owns 5,756 shares of the technology company’s stock worth $231,000 after acquiring an additional 265 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Cogent Communications by 225.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,762 shares of the technology company’s stock worth $232,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 94.11% of the company’s stock.
Shares of Cogent Communications Holdings Inc (CCOI) traded down $0.15 on Friday, reaching $44.10. The company’s stock had a trading volume of 427,813 shares, compared to its average volume of 258,025. The stock has a market capitalization of $2,020.00, a price-to-earnings ratio of 125.57, a P/E/G ratio of 6.16 and a beta of 0.49. The company has a debt-to-equity ratio of -8.84, a quick ratio of 4.22 and a current ratio of 4.22. Cogent Communications Holdings Inc has a 1-year low of $37.85 and a 1-year high of $54.85.
CCOI has been the topic of a number of analyst reports. Macquarie downgraded shares of Cogent Communications from a “neutral” rating to an “underperform” rating in a report on Friday, November 3rd. Zacks Investment Research cut Cogent Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Jefferies Group boosted their price objective on Cogent Communications from $39.00 to $43.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. BidaskClub cut Cogent Communications from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Finally, SunTrust Banks cut Cogent Communications from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Friday, November 3rd. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.27.
In related news, VP Robert N. Beury, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $46.51, for a total transaction of $139,530.00. Following the completion of the transaction, the vice president now owns 47,240 shares in the company, valued at $2,197,132.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard Liebhaber bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average price of $45.30 per share, with a total value of $31,710.00. Following the acquisition, the director now owns 71,045 shares of the company’s stock, valued at $3,218,338.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 13,250 shares of company stock valued at $611,435. 9.48% of the stock is owned by insiders.
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About Cogent Communications
Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.
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