Cogent Communications Holdings, Inc. $CCOI Stock Sold by CenterBook Partners LP

CenterBook Partners LP decreased its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 87.7% in the third quarter, Holdings Channel.com reports. The firm owned 61,718 shares of the technology company’s stock after selling 441,739 shares during the period. CenterBook Partners LP’s holdings in Cogent Communications were worth $481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCOI. Turtle Creek Asset Management Inc. increased its position in Cogent Communications by 7.7% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 4,348,897 shares of the technology company’s stock worth $81,933,000 after purchasing an additional 312,050 shares during the last quarter. FourWorld Capital Management LLC purchased a new stake in shares of Cogent Communications during the 1st quarter worth about $5,002,000. Bank of New York Mellon Corp purchased a new stake in shares of Cogent Communications during the 2nd quarter worth about $3,685,000. Squarepoint Ops LLC lifted its holdings in shares of Cogent Communications by 341.1% during the 2nd quarter. Squarepoint Ops LLC now owns 226,035 shares of the technology company’s stock valued at $3,137,000 after buying an additional 174,787 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Cogent Communications by 145.4% during the 1st quarter. Walleye Capital LLC now owns 239,557 shares of the technology company’s stock valued at $4,513,000 after buying an additional 141,949 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Activity

In other news, CFO Thaddeus Weed sold 4,850 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $9.37, for a total transaction of $45,444.50. Following the transaction, the chief financial officer owned 193,050 shares of the company’s stock, valued at approximately $1,808,878.50. This represents a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Cogent Communications Price Performance

Cogent Communications stock opened at $3.92 on Friday. The company has a market capitalization of $200.70 million, a price-to-earnings ratio of -5.52 and a beta of 0.80. Cogent Communications Holdings, Inc. has a one year low of $3.56 and a one year high of $28.70. The company’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $14.96.

Cogent Communications (NASDAQ:CCOI) last posted its earnings results on Thursday, November 5th. The technology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.15. The company had revenue of $231.20 million for the quarter, compared to the consensus estimate of $234.57 million. During the same quarter last year, the business earned ($0.87) earnings per share. Cogent Communications’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -3.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CCOI shares. Royal Bank Of Canada lowered their price target on Cogent Communications from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, August 13th. KeyCorp lowered shares of Cogent Communications from an “overweight” rating to a “sector weight” rating in a research report on Friday, November 6th. Citigroup cut their price objective on shares of Cogent Communications from $11.50 to $5.20 and set a “neutral” rating on the stock in a research report on Monday. Wall Street Zen cut shares of Cogent Communications from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Cogent Communications in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.24.

Cogent Communications Profile

Cogent Communications is a facilities-based provider of internet and data-transport services. Its offerings include dedicated internet access, IP transit, Ethernet and wavelength services, and colocation, serving businesses, communications carriers, government agencies, and other organizations. The company operates a high-capacity network across North America and Europe. It connects customer locations to the internet and provides network capacity for organizations that need to move data between sites or across networks.