Rhumbline Advisers Sells 1,903 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Rhumbline Advisers lessened its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,747 shares of the technology company’s stock after selling 1,903 shares during the period. Rhumbline Advisers owned approximately 0.25% of Cogent Communications worth $9,460,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Prairieview Wealth Partners LLC raised its holdings in Cogent Communications by 9.8% during the 4th quarter. Prairieview Wealth Partners LLC now owns 10,742 shares of the technology company’s stock valued at $828,000 after buying an additional 960 shares during the period. Consolidated Planning Corp raised its stake in shares of Cogent Communications by 36.0% in the fourth quarter. Consolidated Planning Corp now owns 11,288 shares of the technology company’s stock valued at $870,000 after acquiring an additional 2,988 shares during the period. Van ECK Associates Corp raised its stake in shares of Cogent Communications by 12.0% in the fourth quarter. Van ECK Associates Corp now owns 11,696 shares of the technology company’s stock valued at $902,000 after acquiring an additional 1,251 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cogent Communications by 543.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 21,040 shares of the technology company’s stock worth $1,622,000 after acquiring an additional 17,772 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Cogent Communications during the 4th quarter worth about $382,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Insider Activity

In related news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total value of $147,072.00. Following the transaction, the executive now directly owns 49,542 shares in the company, valued at approximately $3,794,917.20. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thaddeus Gerard Weed sold 4,800 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $81.58, for a total value of $391,584.00. Following the completion of the transaction, the chief financial officer now directly owns 88,500 shares in the company, valued at approximately $7,219,830. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,440 shares of company stock worth $1,057,910 over the last quarter. 11.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, UBS Group started coverage on Cogent Communications in a report on Thursday, November 14th. They issued a “buy” rating and a $102.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.25.

Cogent Communications Trading Down 1.0 %

Shares of CCOI stock opened at $79.10 on Tuesday. Cogent Communications Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $86.76. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 101.41 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a 50 day simple moving average of $76.56 and a 200-day simple moving average of $77.00.

Cogent Communications Company Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.