Emerald Advisers LLC Sells 27,319 Shares of Cogent Communications Holdings Inc (NASDAQ:CCOI)

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Emerald Advisers LLC trimmed its position in shares of Cogent Communications Holdings Inc (NASDAQ:CCOI) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,863 shares of the technology company’s stock after selling 27,319 shares during the quarter. Emerald Advisers LLC’s holdings in Cogent Communications were worth $17,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Insight Partners LLC grew its holdings in Cogent Communications by 1.2% in the 2nd quarter. Capital Insight Partners LLC now owns 24,099 shares of the technology company’s stock valued at $1,431,000 after buying an additional 294 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Cogent Communications in the 2nd quarter valued at $253,000. Nisa Investment Advisors LLC grew its holdings in Cogent Communications by 60.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,320 shares of the technology company’s stock valued at $1,028,000 after buying an additional 6,500 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in Cogent Communications by 3.6% in the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 88,855 shares of the technology company’s stock valued at $5,274,000 after buying an additional 3,080 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Cogent Communications by 1.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,500 shares of the technology company’s stock valued at $979,000 after buying an additional 300 shares in the last quarter. 87.82% of the stock is currently owned by hedge funds and other institutional investors.

CCOI opened at $57.74 on Friday. The business’s fifty day moving average is $56.41 and its 200-day moving average is $58.49. The firm has a market cap of $2.75 billion, a P/E ratio of 91.65, a price-to-earnings-growth ratio of 9.54 and a beta of 0.56. Cogent Communications Holdings Inc has a 52-week low of $42.40 and a 52-week high of $64.24.

Cogent Communications (NASDAQ:CCOI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). The business had revenue of $134.79 million for the quarter, compared to the consensus estimate of $136.12 million. Cogent Communications had a net margin of 5.97% and a negative return on equity of 20.58%. Cogent Communications’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, equities analysts anticipate that Cogent Communications Holdings Inc will post 0.77 EPS for the current year.

CCOI has been the topic of a number of research reports. TheStreet lowered Cogent Communications from a “b” rating to a “c+” rating in a report on Monday, August 12th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Cogent Communications in a report on Friday, August 9th. BidaskClub raised Cogent Communications from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Cogent Communications from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Cogent Communications currently has a consensus rating of “Hold” and an average target price of $61.40.

In other Cogent Communications news, CFO Thaddeus Gerard Weed sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 67,550 shares of the company’s stock, valued at $4,053,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $60.98, for a total value of $60,980.00. Following the sale, the vice president now directly owns 37,252 shares in the company, valued at $2,271,626.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,080 shares of company stock worth $1,239,512. Insiders own 10.17% 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 primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.

See Also: Growth Stocks

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

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