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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,450,000 shares, a decline of 8.2% from the January 15th total of 3,760,000 shares. Based on an average trading volume of 402,900 shares, the short-interest ratio is presently 8.6 days. Approximately 8.0% of the shares of the company are sold short.

Cogent Communications Trading Up 1.7 %

Shares of NASDAQ:CCOI traded up $1.40 during trading on Tuesday, hitting $83.40. The company had a trading volume of 245,062 shares, compared to its average volume of 326,634. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 106.92 and a beta of 0.40. Cogent Communications has a one year low of $50.80 and a one year high of $86.76. The company has a fifty day simple moving average of $76.18 and a two-hundred day simple moving average of $76.60. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Wall Street Analyst Weigh In

Separately, UBS Group began coverage on Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $80.25.

Insider Buying and Selling

In other Cogent Communications news, Director Blake Bath sold 6,220 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $83.69, for a total value of $520,551.80. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $836,900. This represents a 38.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the executive now owns 51,462 shares of the company’s stock, valued at approximately $4,190,036.04. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,660 shares of company stock valued at $1,578,462 over the last 90 days. Company insiders own 11.40% of the company’s stock.

Institutional Investors Weigh In On Cogent Communications

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Cogent Communications by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company’s stock valued at $394,182,000 after purchasing an additional 43,523 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Cogent Communications by 24.1% in the fourth quarter. Brown Advisory Inc. now owns 1,897,090 shares of the technology company’s stock worth $146,209,000 after buying an additional 368,129 shares during the period. State Street Corp raised its holdings in shares of Cogent Communications by 1.3% in the third quarter. State Street Corp now owns 1,750,810 shares of the technology company’s stock worth $132,921,000 after buying an additional 22,738 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Cogent Communications by 0.3% in the third quarter. EdgePoint Investment Group Inc. now owns 1,542,503 shares of the technology company’s stock worth $117,107,000 after buying an additional 5,307 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in shares of Cogent Communications by 21.8% in the fourth quarter. Hood River Capital Management LLC now owns 1,436,855 shares of the technology company’s stock worth $110,738,000 after buying an additional 257,383 shares during the period. 92.45% of the stock is owned by institutional investors.

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.