Empowered Funds LLC Buys New Position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Empowered Funds LLC bought a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,956 shares of the technology company's stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCOI. Verition Fund Management LLC raised its position in Cogent Communications by 136.5% in the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company's stock valued at $11,025,000 after buying an additional 83,816 shares during the last quarter. FMR LLC grew its stake in 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 purchasing an additional 79,474 shares in the last quarter. Atom Investors LP bought a new stake in Cogent Communications in the 3rd quarter valued at $4,565,000. Edgestream Partners L.P. bought a new stake in Cogent Communications in the 3rd quarter valued at $4,325,000. Finally, GLOBALT Investments LLC GA bought a new stake in Cogent Communications in the 3rd quarter valued at $3,957,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Insider Buying and Selling

In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $81.42, for a total value of $156,326.40. Following the sale, the executive now owns 51,462 shares in the company, valued at approximately $4,190,036.04. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Henry W. Kilmer sold 4,800 shares of the company'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 completion of the sale, the vice president now owns 33,800 shares in the company, valued at $2,555,618. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,440 shares of company stock worth $1,057,910 in the last 90 days. Insiders own 11.40% of the company's stock.

Cogent Communications Price Performance

Shares of Cogent Communications stock traded down $1.14 during trading on Friday, reaching $80.31. 91,682 shares of the company's stock were exchanged, compared to its average volume of 314,744. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. 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 $3.94 billion, a P/E ratio of 102.98 and a beta of 0.40. The firm's 50-day moving average price is $76.44 and its 200 day moving average price is $76.68.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cogent Communications has a consensus rating of "Hold" and an average target price of $80.25.

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.