Van ECK Associates Corp Raises Stock Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Van ECK Associates Corp increased its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 12.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,696 shares of the technology company’s stock after purchasing an additional 1,251 shares during the period. Van ECK Associates Corp’s holdings in Cogent Communications were worth $902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCOI. Itau Unibanco Holding S.A. purchased a new stake in Cogent Communications in the third quarter worth $30,000. Blue Trust Inc. grew its stake in Cogent Communications by 204.5% in the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after purchasing an additional 272 shares during the period. Quest Partners LLC purchased a new stake in Cogent Communications in the third quarter worth $46,000. KBC Group NV grew its stake in Cogent Communications by 28.7% in the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after purchasing an additional 326 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in Cogent Communications in the third quarter worth $204,000. 92.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Cogent Communications Trading Down 1.9 %

Cogent Communications stock opened at $79.93 on Friday. 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 business’s fifty day simple moving average is $76.50 and its two-hundred day simple moving average is $76.79. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 102.47 and a beta of 0.40.

Insiders Place Their Bets

In other news, VP Henry W. Kilmer sold 4,800 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.61, for a total transaction of $362,928.00. Following the transaction, the vice president now directly owns 33,800 shares of the company’s stock, valued at $2,555,618. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $76.60, for a total value of $147,072.00. Following the transaction, the executive now directly owns 49,542 shares in the company, valued at approximately $3,794,917.20. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,440 shares of company stock valued at $1,057,910. 11.40% of the stock is currently owned by corporate insiders.

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.