Skylands Capital LLC Sells 25,800 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Skylands Capital LLC trimmed its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,075 shares of the technology company’s stock after selling 25,800 shares during the period. Skylands Capital LLC owned 0.14% of Cogent Communications worth $5,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Cogent Communications during the third quarter worth $30,000. Blue Trust Inc. raised its holdings in Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock worth $31,000 after buying an additional 272 shares during the last quarter. Quest Partners LLC bought a new stake in Cogent Communications during the third quarter worth $46,000. KBC Group NV lifted its position in shares of Cogent Communications by 28.7% during the 3rd quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after buying an additional 326 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new position in Cogent Communications during the third quarter valued at about $204,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Cogent Communications Trading Down 1.9 %

NASDAQ:CCOI opened at $79.93 on Monday. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The firm has a 50 day moving average of $76.50 and a 200 day moving average of $76.93. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 102.47 and a beta of 0.40.

Insider Buying and Selling at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $76.60, for a total transaction of $147,072.00. Following the sale, the executive now owns 49,542 shares of the company’s stock, valued at approximately $3,794,917.20. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Henry W. Kilmer sold 4,800 shares of Cogent Communications stock in a transaction dated Thursday, December 12th. The shares were 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. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,440 shares of company stock valued at $1,057,910. Corporate insiders own 11.40% of the company’s stock.

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 investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $80.25.

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.