Sei Investments Co. cut its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 75.4% during the third quarter, Holdings Channel reports. The firm owned 8,436 shares of the company’s stock after selling 25,833 shares during the period. Sei Investments Co.’s holdings in Cogent Communications Holdings were worth $311,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. US Bancorp DE raised its stake in shares of Cogent Communications Holdings by 2.8% in the second quarter. US Bancorp DE now owns 3,427 shares of the company’s stock valued at $137,000 after buying an additional 93 shares during the period. PineBridge Investments L.P. raised its stake in shares of Cogent Communications Holdings by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,220 shares of the company’s stock valued at $210,000 after buying an additional 194 shares during the period. Arizona State Retirement System raised its stake in shares of Cogent Communications Holdings by 1.4% in the second quarter. Arizona State Retirement System now owns 21,400 shares of the company’s stock valued at $857,000 after buying an additional 300 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Cogent Communications Holdings by 2.1% in the second quarter. Perigon Wealth Management LLC now owns 16,719 shares of the company’s stock valued at $670,000 after buying an additional 336 shares during the period. Finally, Stanley Laman Group Ltd. raised its stake in shares of Cogent Communications Holdings by 3.7% in the third quarter. Stanley Laman Group Ltd. now owns 19,224 shares of the company’s stock valued at $708,000 after buying an additional 683 shares during the period. 97.07% of the stock is currently owned by hedge funds and other institutional investors.

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

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) traded up 1.21% on Friday, reaching $41.90. 318,611 shares of the company’s stock were exchanged. Cogent Communications Holdings, Inc. has a 52 week low of $29.65 and a 52 week high of $43.61. The stock’s 50 day moving average is $40.00 and its 200 day moving average is $38.51. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 138.28 and a beta of 0.84.

Cogent Communications Holdings (NASDAQ:CCOI) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.02. Cogent Communications Holdings had a negative return on equity of 53.79% and a net margin of 3.10%. The company earned $113.10 million during the quarter, compared to the consensus estimate of $113.25 million. During the same quarter in the previous year, the business posted $0.07 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Cogent Communications Holdings, Inc. will post $0.37 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was published by Watch List News and is the sole property of of Watch List News. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this article can be accessed at http://www.watchlistnews.com/sei-investments-co-has-311000-position-in-cogent-communications-holdings-inc-ccoi/1061004.html.

Several brokerages have issued reports on CCOI. BTIG Research boosted their price target on shares of Cogent Communications Holdings to $50.00 in a report on Friday. Stifel Nicolaus started coverage on shares of Cogent Communications Holdings in a report on Friday. They issued a “buy” rating and a $48.00 target price on the stock. Zacks Investment Research raised shares of Cogent Communications Holdings from a “sell” rating to a “hold” rating in a report on Monday, November 7th. TheStreet raised shares of Cogent Communications Holdings from a “hold” rating to a “buy” rating in a report on Friday, November 25th. Finally, SunTrust Banks, Inc. started coverage on shares of Cogent Communications Holdings in a report on Monday, December 12th. They issued a “buy” rating and a $43.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Cogent Communications Holdings has a consensus rating of “Hold” and a consensus price target of $44.50.

In related news, VP Timothy G. Oneill sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $36,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thaddeus Gerard Weed sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $42.50, for a total value of $212,500.00. The disclosure for this sale can be found here. 9.17% of the stock is owned by corporate insiders.

About Cogent Communications Holdings

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

5 Day Chart for NASDAQ:CCOI

Want to see what other hedge funds are holding CCOI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cogent Communications Holdings, Inc. (NASDAQ:CCOI).

Receive News & Ratings for Cogent Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cogent Communications Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.