CenterBook Partners LP Acquires Shares of 169,761 Cogent Communications Holdings, Inc. $CCOI

CenterBook Partners LP bought a new position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 169,761 shares of the technology company’s stock, valued at approximately $6,510,000.

Other large investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new position in Cogent Communications during the second quarter worth $40,000. Farther Finance Advisors LLC raised its position in shares of Cogent Communications by 80.5% in the third quarter. Farther Finance Advisors LLC now owns 1,336 shares of the technology company’s stock valued at $51,000 after purchasing an additional 596 shares during the period. Versant Capital Management Inc lifted its stake in shares of 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 last quarter. Headlands Technologies LLC bought a new stake in shares of Cogent Communications during the 2nd quarter worth about $98,000. Finally, Strs Ohio acquired a new position in Cogent Communications in the 1st quarter valued at about $104,000. Institutional investors own 92.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCOI. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price objective (down from $45.00) on shares of Cogent Communications in a research report on Friday, November 7th. JPMorgan Chase & Co. dropped their price target on Cogent Communications from $37.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, November 13th. The Goldman Sachs Group reduced their price target on Cogent Communications from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada lowered their price objective on Cogent Communications from $40.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 13th. Finally, Citigroup reduced their target price on shares of Cogent Communications from $33.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.71.

Insider Transactions at Cogent Communications

In other Cogent Communications news, Director Lewis H. Ferguson sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $81,360.00. Following the completion of the transaction, the director owned 19,267 shares of the company’s stock, valued at approximately $391,890.78. The trade was a 17.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Cogent Communications Trading Up 1.2%

Shares of CCOI opened at $26.79 on Wednesday. The company has a debt-to-equity ratio of 49.06, a quick ratio of 2.02 and a current ratio of 2.02. Cogent Communications Holdings, Inc. has a 52-week low of $15.96 and a 52-week high of $84.06. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -6.57 and a beta of 0.81. The business’s fifty day moving average is $23.42 and its 200-day moving average is $30.41.

About Cogent Communications

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.