CenterBook Partners LP Acquires New Shares in Cogent Communications Holdings, Inc. $CCOI

CenterBook Partners LP bought a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 169,761 shares of the technology company’s stock, valued at approximately $6,510,000. CenterBook Partners LP owned approximately 0.35% of Cogent Communications at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new position in shares of Cogent Communications during the 2nd quarter valued at about $40,000. Farther Finance Advisors LLC increased its stake in Cogent Communications by 80.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,336 shares of the technology company’s stock worth $51,000 after purchasing an additional 596 shares in the last quarter. Versant Capital Management Inc raised its holdings in Cogent Communications by 333.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,557 shares of the technology company’s stock worth $60,000 after buying an additional 1,198 shares during the period. Headlands Technologies LLC bought a new position in Cogent Communications in the second quarter valued at approximately $98,000. Finally, Strs Ohio acquired a new position in shares of Cogent Communications in the first quarter valued at approximately $104,000. 92.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CCOI. KeyCorp reaffirmed an “overweight” rating on shares of Cogent Communications in a research report on Wednesday, December 10th. Royal Bank Of Canada dropped their price target on Cogent Communications from $40.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Zacks Research raised Cogent Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price objective (down from $45.00) on shares of Cogent Communications in a report on Friday, November 7th. Finally, Citigroup cut their target price on Cogent Communications from $33.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.71.

Cogent Communications Trading Up 1.2%

NASDAQ CCOI opened at $26.79 on Wednesday. Cogent Communications Holdings, Inc. has a 12 month low of $15.96 and a 12 month high of $84.06. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 49.06. The stock has a 50 day moving average of $23.42 and a 200-day moving average of $30.41. The company has a market cap of $1.32 billion, a PE ratio of -6.57 and a beta of 0.81.

Insider Activity at Cogent Communications

In other news, Director Lewis H. Ferguson sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $81,360.00. Following the transaction, the director directly owned 19,267 shares in the company, valued at $391,890.78. The trade was a 17.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is currently owned by company insiders.

Cogent Communications Profile

Cogent Communications (NASDAQ:CCOI) is a multinational Internet service provider specializing in high-speed Internet access and data transport services. The company operates one of the largest Tier 1 IP networks in the world, offering wholesale and enterprise customers reliable, low-latency connectivity. Cogent’s core services include dedicated Internet access, Ethernet transport, wavelength services, and MPLS-based IP Virtual Private Networks, all delivered over its privately owned, fiber-optic backbone.

In addition to network connectivity, Cogent provides data center colocation and managed services designed to support businesses with demanding bandwidth and redundancy requirements.