Mig Capital buys $42,456,490 stake in Cogent Communications Holdings Inc (CCOI)

Cogent Communications Holdings Inc (CCOI) : Mig Capital scooped up 385,150 additional shares in Cogent Communications Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,104,200 shares of Cogent Communications Holdings Inc which is valued at $42,456,490.Cogent Communications Holdings Inc makes up approximately 8.02% of Mig Capital’s portfolio.

Other Hedge Funds, Including , Gsa Capital Partners Llp sold out all of its stake in CCOI during the most recent quarter. The investment firm sold 9,298 shares of CCOI which is valued $357,508.Blackrock Institutional Trust Company N.a. boosted its stake in CCOI in the latest quarter, The investment management firm added 23,587 additional shares and now holds a total of 1,019,877 shares of Cogent Communications Holdings Inc which is valued at $41,101,043. Cogent Communications Holdings Inc makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.First Washington Corp boosted its stake in CCOI in the latest quarter, The investment management firm added 780 additional shares and now holds a total of 107,280 shares of Cogent Communications Holdings Inc which is valued at $3,958,632. Cogent Communications Holdings Inc makes up approx 2.36% of First Washington Corp’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in CCOI by selling 88,170 shares or 16.4% in the most recent quarter. The Hedge Fund company now holds 449,610 shares of CCOI which is valued at $16,343,324. Cogent Communications Holdings Inc makes up approx 0.32% of Kornitzer Capital Management Inc Ks’s portfolio.

Cogent Communications Holdings Inc closed down -0.4 points or -1.03% at $38.6 with 3,75,309 shares getting traded on Monday. Post opening the session at $38.65, the shares hit an intraday low of $37.85 and an intraday high of $39.05 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Cogent Communications Holdings Inc reported $0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $0.09. The company had revenue of $113.10 million for the quarter, compared to analysts expectations of $113.02 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

Cogent Communications Holdings Inc. is a facility-based provider of Internet access Internet Protocol (IP) and communications services. The Company’s network is designed and optimized to transmit data using IP. The Company delivers its services to small and medium-sized businesses communications service providers and other bandwidth-intensive organizations in North America Europe and Japan. The Company offers on-net Internet access services through its own facilities which run from its network to its customers’ premises. The Company offers its on-net services to customers located in buildings that are physically connected to its network. Its on-net service consists of Internet access and IP connectivity ranging from 100 Megabits per second to 100 Gigabits per second of bandwidth. It provides its on-net Internet access services to its net-centric and corporate customers.

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