Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Short Interest Down 8.2% in January

Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Get Free Report) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 3,450,000 shares, a drop of 8.2% from the January 15th total of 3,760,000 shares. Based on an average daily trading volume, of 402,900 shares, the short-interest ratio is currently 8.6 days. Currently, 8.0% of the shares of the company are sold short.

Cogent Communications Trading Down 1.9 %

CCOI stock traded down $1.52 during trading on Friday, reaching $79.93. 300,536 shares of the stock were exchanged, compared to its average volume of 321,028. The business has a 50 day moving average price of $76.50 and a 200-day moving average price of $76.79. Cogent Communications has a 1 year low of $50.80 and a 1 year high of $86.76. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 102.47 and a beta of 0.40.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 4,800 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the completion of the transaction, the vice president now directly owns 33,800 shares of the company's stock, valued at approximately $2,555,618. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO James Bubeck sold 1,920 shares of the firm'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 transaction of $147,072.00. Following the sale, the executive now directly owns 49,542 shares in the company, valued at $3,794,917.20. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,440 shares of company stock worth $1,057,910. Insiders own 11.40% of the company's stock.

Institutional Investors Weigh In On Cogent Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its position in shares of Cogent Communications by 85.7% during the third quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company's stock worth $1,284,000 after buying an additional 7,803 shares during the period. Consolidated Planning Corp purchased a new position in Cogent Communications during the 3rd quarter valued at about $630,000. PEAK6 Investments LLC purchased a new stake in Cogent Communications during the third quarter worth about $1,720,000. Citigroup Inc. increased its stake in Cogent Communications by 56.8% during the third quarter. Citigroup Inc. now owns 56,595 shares of the technology company's stock worth $4,297,000 after purchasing an additional 20,510 shares during the period. Finally, Boston Financial Mangement LLC boosted its stake in shares of Cogent Communications by 2.8% in the third quarter. Boston Financial Mangement LLC now owns 609,821 shares of the technology company's stock valued at $46,298,000 after purchasing an additional 16,527 shares during the period. Hedge funds and other institutional investors own 92.45% of the company's stock.

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.