Ulysses Management Lowers stake in Cogent Communications Holdings Inc (CCOI)

Cogent Communications Holdings Inc (CCOI) : Ulysses Management reduced its stake in Cogent Communications Holdings Inc by 9.9% during the most recent quarter end. The investment management company now holds a total of 454,925 shares of Cogent Communications Holdings Inc which is valued at $17,482,768 after selling 50,000 shares in Cogent Communications Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Cogent Communications Holdings Inc makes up approximately 5.20% of Ulysses Management’s portfolio.

Other Hedge Funds, Including , Zacks Investment Management added CCOI to its portfolio by purchasing 5,208 company shares during the most recent quarter which is valued at $200,143. Cogent Communications Holdings Inc makes up approx 0.01% of Zacks Investment Management’s portfolio.Rk Capital Management boosted its stake in CCOI in the latest quarter, The investment management firm added 21,100 additional shares and now holds a total of 392,800 shares of Cogent Communications Holdings Inc which is valued at $15,095,304. Cogent Communications Holdings Inc makes up approx 2.58% of Rk Capital Management’s portfolio.Parametric Portfolio Associates boosted its stake in CCOI in the latest quarter, The investment management firm added 7,532 additional shares and now holds a total of 126,267 shares of Cogent Communications Holdings Inc which is valued at $4,852,441. Cogent Communications Holdings Inc makes up approx 0.01% of Parametric Portfolio Associates’s portfolio. Cortina Asset Management sold out all of its stake in CCOI during the most recent quarter. The investment firm sold 192,882 shares of CCOI which is valued $7,412,455. Feltz Wealth Plan sold out all of its stake in CCOI during the most recent quarter. The investment firm sold 2,000 shares of CCOI which is valued $75,540.

Cogent Communications Holdings Inc closed down -0.31 points or -0.87% at $35.23 with 6,82,920 shares getting traded on Thursday. Post opening the session at $35.52, the shares hit an intraday low of $35.07 and an intraday high of $36.13 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Cogent Communications Holdings Inc reported $0.09 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.09. The company had revenue of $110.00 million for the quarter, compared to analysts expectations of $110.82 million. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Cogent Communications Holdings Inc. Cogent Communications Holdings Inc was Downgraded by Raymond James to ” Mkt Perform” on Aug 8, 2016.

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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