Rivulet Capital buys $45.2 Million stake in Cogent Communications Holdings Inc (CCOI)

Cogent Communications Holdings Inc (CCOI) : Rivulet Capital scooped up 131,200 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 May 13, 2016. The investment management firm now holds a total of 1,151,200 shares of Cogent Communications Holdings Inc which is valued at $45.2 Million.Cogent Communications Holdings Inc makes up approximately 13.91% of Rivulet Capital’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in CCOI by selling 45,440 shares or 32.18% in the most recent quarter. The Hedge Fund company now holds 95,756 shares of CCOI which is valued at $3.8 Million. Cogent Communications Holdings Inc makes up approx 0.01% of Susquehanna International Group Llp’s portfolio.Rk Capital Management boosted its stake in CCOI in the latest quarter, The investment management firm added 38,500 additional shares and now holds a total of 371,700 shares of Cogent Communications Holdings Inc which is valued at $14.6 Million. Cogent Communications Holdings Inc makes up approx 2.47% of Rk Capital Management’s portfolio.Blackrock Group Ltd reduced its stake in CCOI by selling 25,859 shares or 14.72% in the most recent quarter. The Hedge Fund company now holds 149,866 shares of CCOI which is valued at $5.9 Million.Schwab Charles Investment Management Inc boosted its stake in CCOI in the latest quarter, The investment management firm added 2,346 additional shares and now holds a total of 138,058 shares of Cogent Communications Holdings Inc which is valued at $5.4 Million. Cogent Communications Holdings Inc makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.

Cogent Communications Holdings Inc opened for trading at $39.3 and hit $39.58 on the upside on Wednesday, eventually ending the session at $39.36, with a gain of 0.49% or 0.19 points. The heightened volatility saw the trading volume jump to 4,81,564 shares. Company has a market cap of $1,780 M.

On the company’s financial health, Cogent Communications Holdings Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.07. The company had revenue of $108.30 million for the quarter, compared to analysts expectations of $107.92 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Many Wall Street Analysts have commented on Cogent Communications Holdings Inc. Company shares were Downgraded by Citigroup on Apr 6, 2016 to ” Neutral”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Company shares were Reiterated by RBC Capital Mkts on Feb 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $38 .Cogent Communications Holdings Inc was Downgraded by JP Morgan to ” Neutral” on Feb 23, 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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