News

Fintel reports that on March 1, 2024, LightShed Partners downgraded their outlook for Cogent Communications Holdings (NasdaqGS:CCOI) from Neutral to Sell .

Analyst Price Forecast Suggests 0.85% Upside

As of February 24, 2024, the average one-year price target for Cogent Communications Holdings is 81.60. The forecasts range from a low of 62.62 to a high of $99.75. The average price target represents an increase of 0.85% from its latest reported closing price of 80.91.

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The projected annual revenue for Cogent Communications Holdings is 697MM, a decrease of 25.95%. The projected annual non-GAAP EPS is 1.36.

What is the Fund Sentiment?

There are 644 funds or institutions reporting positions in Cogent Communications Holdings. This is an increase of 8 owner(s) or 1.26% in the last quarter. Average portfolio weight of all funds dedicated to CCOI is 0.31%, an increase of 19.25%. Total shares owned by institutions increased in the last three months by 5.79% to 49,372K shares. The put/call ratio of CCOI is 0.75, indicating a bullish outlook.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 2,895K shares representing 6.14% ownership of the company. In it's prior filing, the firm reported owning 2,938K shares, representing a decrease of 1.50%. The firm increased its portfolio allocation in CCOI by 4.69% over the last quarter.

Renaissance Technologies holds 1,611K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 1,761K shares, representing a decrease of 9.25%. The firm increased its portfolio allocation in CCOI by 2.11% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,366K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 1,366K shares, representing a decrease of 0.02%. The firm decreased its portfolio allocation in CCOI by 4.54% over the last quarter.

Brown Advisory holds 1,339K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 1,360K shares, representing a decrease of 1.55%. The firm decreased its portfolio allocation in CCOI by 43.20% over the last quarter.

IWM - iShares Russell 2000 ETF holds 1,158K shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 1,002K shares, representing an increase of 13.45%. The firm increased its portfolio allocation in CCOI by 9.77% over the last quarter.

Cogent Communications Holdings Background Information
(This description is provided by the company.)

Cogent (NASDAQ: CCOI) is a facilities-based provider of low cost, high speed Internet access and private network services to bandwidth intensive businesses. Cogent's facilities-based, all-optical IP network provides services in over 209 markets across 47 countries.

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This story originally appeared on Fintel.

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