Picton Mahoney Asset Management lowered its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 0.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 37,900 shares of the technology company’s stock after selling 200 shares during the period. Picton Mahoney Asset Management owned 0.08% of Cogent Communications Holdings worth $1,520,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCOI. LS Investment Advisors LLC raised its stake in Cogent Communications Holdings by 74.2% in the first quarter. LS Investment Advisors LLC now owns 2,571 shares of the technology company’s stock valued at $111,000 after buying an additional 1,095 shares during the period. Sei Investments Co. raised its position in shares of Cogent Communications Holdings by 29.7% in the second quarter. Sei Investments Co. now owns 2,923 shares of the technology company’s stock valued at $117,000 after purchasing an additional 670 shares during the period. Pacad Investment Ltd. bought a new position in shares of Cogent Communications Holdings in the second quarter valued at about $140,000. PNC Financial Services Group Inc. raised its position in shares of Cogent Communications Holdings by 1,919.3% in the second quarter. PNC Financial Services Group Inc. now owns 3,776 shares of the technology company’s stock valued at $151,000 after purchasing an additional 3,589 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Cogent Communications Holdings in the first quarter valued at about $155,000. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) traded up 1.74% during mid-day trading on Monday, reaching $49.75. 59,604 shares of the company’s stock were exchanged. Cogent Communications Holdings, Inc. has a one year low of $34.23 and a one year high of $50.25. The stock has a 50-day moving average of $44.45 and a 200-day moving average of $42.31. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 142.14 and a beta of 0.66.

Cogent Communications Holdings (NASDAQ:CCOI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). The company had revenue of $119.80 million during the quarter, compared to the consensus estimate of $120.23 million. Cogent Communications Holdings had a net margin of 3.39% and a negative return on equity of 27.66%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities research analysts anticipate that Cogent Communications Holdings, Inc. will post $0.47 earnings per share for the current year.

In other Cogent Communications Holdings news, CFO Thaddeus Gerard Weed sold 2,250 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $43.51, for a total transaction of $97,897.50. Following the transaction, the chief financial officer now directly owns 72,650 shares of the company’s stock, valued at approximately $3,161,001.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $40.25, for a total transaction of $40,250.00. Following the transaction, the vice president now directly owns 43,052 shares in the company, valued at $1,732,843. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,466 shares of company stock valued at $1,365,104. Insiders own 9.48% of the company’s stock.

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Several analysts recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $48.00 target price on shares of Cogent Communications Holdings in a report on Monday, September 18th. Cowen and Company restated a “hold” rating and set a $46.00 price objective on shares of Cogent Communications Holdings in a research report on Friday, August 4th. BidaskClub cut Cogent Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research downgraded Cogent Communications Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Off Wall Street initiated coverage on Cogent Communications Holdings in a report on Monday, July 31st. They set a “sell” rating and a $29.00 price target for the company. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.45.

Cogent Communications Holdings Company Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

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Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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