Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Stock Position Lifted by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 8,542.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 237,678 shares of the technology company's stock after purchasing an additional 234,928 shares during the quarter. Bryn Mawr Capital Management LLC owned about 0.48% of Cogent Communications worth $18,318,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Creative Planning raised its position in shares of Cogent Communications by 40.1% during the 3rd quarter. Creative Planning now owns 17,618 shares of the technology company's stock worth $1,338,000 after buying an additional 5,043 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Cogent Communications by 5.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company's stock worth $378,000 after buying an additional 262 shares in the last quarter. Blue Trust Inc. raised its position in shares of Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock worth $31,000 after buying an additional 272 shares in the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of Cogent Communications by 2.2% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 19,836 shares of the technology company's stock worth $1,506,000 after buying an additional 429 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Cogent Communications by 17.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 14,180 shares of the technology company's stock worth $1,077,000 after buying an additional 2,104 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group began 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 issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Cogent Communications has a consensus rating of "Hold" and an average price target of $80.25.

Cogent Communications Price Performance

Shares of CCOI traded down $1.74 during mid-day trading on Friday, hitting $79.71. The company's stock had a trading volume of 157,385 shares, compared to its average volume of 316,407. The firm has a 50-day moving average price of $76.44 and a 200 day moving average price of $76.68. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 102.24 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. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

Insider Transactions at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,800 shares of Cogent Communications stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 88,500 shares of the company's stock, valued at $7,219,830. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the completion of the transaction, the executive now directly owns 49,542 shares in the company, valued at approximately $3,794,917.20. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,440 shares of company stock valued at $1,057,910 over the last ninety days. Corporate insiders own 11.40% of the company's stock.

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.