Skylands Capital LLC Trims Stock Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Skylands Capital LLC lowered its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 26.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 70,075 shares of the technology company’s stock after selling 25,800 shares during the quarter. Skylands Capital LLC’s holdings in Cogent Communications were worth $5,401,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp boosted its position in Cogent Communications by 1.3% during the 3rd quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock valued at $132,921,000 after purchasing an additional 22,738 shares during the period. EdgePoint Investment Group Inc. lifted its holdings in shares of Cogent Communications by 0.3% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock valued at $117,107,000 after buying an additional 5,307 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Cogent Communications by 0.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,039,458 shares of the technology company’s stock valued at $78,916,000 after acquiring an additional 4,197 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cogent Communications by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,014,322 shares of the technology company’s stock worth $77,021,000 after purchasing an additional 3,093 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Cogent Communications by 11.0% in the third quarter. FMR LLC now owns 800,758 shares of the technology company’s stock valued at $60,793,000 after buying an additional 79,474 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $81.42, for a total transaction of $156,326.40. Following the completion of the transaction, the executive now owns 51,462 shares of the company’s stock, valued at $4,190,036.04. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Henry W. Kilmer sold 4,800 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the transaction, the vice president now directly owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,440 shares of company stock worth $1,057,910. 11.40% of the stock is owned by corporate insiders.

Cogent Communications Price Performance

Shares of CCOI opened at $79.93 on Monday. The firm has a market cap of $3.92 billion, a PE ratio of 102.47 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 52-week low of $50.80 and a 52-week high of $86.76. The business’s 50 day moving average price is $76.50 and its two-hundred day moving average price is $76.93. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Analysts Set New Price Targets

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

About Cogent Communications

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.