Cogent Communications Holdings, Inc. $CCOI Shares Acquired by Herald Investment Management Ltd

Herald Investment Management Ltd grew its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 242,600 shares of the technology company’s stock after acquiring an additional 35,000 shares during the quarter. Cogent Communications comprises 1.2% of Herald Investment Management Ltd’s holdings, making the stock its 22nd largest position. Herald Investment Management Ltd owned 0.49% of Cogent Communications worth $9,304,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Magnolia Group LLC acquired a new stake in shares of Cogent Communications in the second quarter valued at about $52,704,000. Invesco Ltd. grew its position in shares of Cogent Communications by 84.2% in the second quarter. Invesco Ltd. now owns 1,003,273 shares of the technology company’s stock valued at $48,368,000 after purchasing an additional 458,698 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Cogent Communications by 144.2% in the second quarter. Qube Research & Technologies Ltd now owns 687,839 shares of the technology company’s stock valued at $33,161,000 after purchasing an additional 406,129 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Cogent Communications by 13.3% during the second quarter. EdgePoint Investment Group Inc. now owns 2,279,440 shares of the technology company’s stock worth $109,892,000 after buying an additional 267,143 shares in the last quarter. Finally, Tyro Capital Management LLC boosted its stake in Cogent Communications by 29.4% during the second quarter. Tyro Capital Management LLC now owns 636,895 shares of the technology company’s stock worth $30,705,000 after buying an additional 144,792 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

Cogent Communications Price Performance

CCOI stock opened at $26.46 on Friday. The business’s fifty day moving average price is $23.20 and its 200 day moving average price is $30.78. Cogent Communications Holdings, Inc. has a 12-month low of $15.96 and a 12-month high of $84.06. The company has a market capitalization of $1.30 billion, a PE ratio of -6.49 and a beta of 0.81. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 49.06.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research upgraded Cogent Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cogent Communications in a report on Monday, December 22nd. KeyCorp restated an “overweight” rating on shares of Cogent Communications in a report on Wednesday, December 10th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price objective (down from $45.00) on shares of Cogent Communications in a report on Friday, November 7th. Finally, UBS Group reissued a “neutral” rating and set a $27.00 target price (down previously from $50.00) on shares of Cogent Communications in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.71.

Insider Activity at Cogent Communications

In other news, Director Lewis H. Ferguson sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $81,360.00. Following the sale, the director owned 19,267 shares of the company’s stock, valued at approximately $391,890.78. This represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.40% 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.