After Forming Bullish Multiple Top, Is Cogent Communications Holdings, Inc. (CCOI)’s Near-Term Analysis Positive?

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Logo

Investors sentiment increased to 1.27 in Q2 2018. Its up 0.22, from 1.05 in 2018Q1. It is positive, as 19 investors sold Cogent Communications Holdings, Inc. shares while 51 reduced holdings. 36 funds opened positions while 53 raised stakes. 40.86 million shares or 0.23% more from 40.77 million shares in 2018Q1 were reported.
Us Bank De has invested 0% in Cogent Communications Holdings, Inc. (NASDAQ:CCOI). Royal State Bank Of Canada holds 0.01% or 259,341 shares in its portfolio. Creative Planning owns 5,399 shares. Vanguard Grp owns 4.49 million shares for 0.01% of their portfolio. Aqr Mgmt Limited Liability Com reported 3,753 shares or 0% of all its holdings. Fmr Limited Co holds 0.01% or 1.34M shares in its portfolio. Tiaa Cref Investment Mngmt Limited Liability accumulated 0% or 117,980 shares. Fort Washington Inv Advsr Oh holds 0.18% of its portfolio in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) for 336,000 shares. Df Dent holds 0.04% of its portfolio in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) for 33,637 shares. Dupont Mgmt has 0.05% invested in Cogent Communications Holdings, Inc. (NASDAQ:CCOI). Eagle Cap Mngmt Limited Company has 0% invested in Cogent Communications Holdings, Inc. (NASDAQ:CCOI). Teacher Retirement Systems Of Texas holds 8,856 shares or 0% of its portfolio. Blair William And Il invested in 174,543 shares or 0.06% of the stock. Advisory Service Networks Ltd Liability Com has 49 shares for 0% of their portfolio. Bnp Paribas Arbitrage, a New York-based fund reported 2,483 shares.

Since June 1, 2018, it had 0 insider purchases, and 16 insider sales for $3.04 million activity. Shares for $157,896 were sold by KILMER HENRY W on Wednesday, June 6. On Thursday, November 8 WEINGARTEN TIM sold $127,523 worth of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) or 2,500 shares. KUMMER RAYMOND B also sold $157,997 worth of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) on Wednesday, June 6. BEURY ROBERT N JR sold 3,000 shares worth $153,434. Another trade for 4,500 shares valued at $240,975 was sold by WEED THADDEUS GERARD. The insider Bath Blake sold 18,411 shares worth $1.01M.

The stock of Cogent Communications Holdings, Inc. (CCOI) shows a multiple tops pattern with $51.88 target or 7.00 % above today’s $48.49 share price. The 8 months chart pattern indicates low risk for the $2.19B company. It was reported on Dec, 2 by Finviz.com. If the $51.88 price target is reached, the company will be worth $153.16M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.88% or $0.43 during the last trading session, reaching $48.49. About 516,064 shares traded or 72.69% up from the average. Cogent Communications Holdings, Inc. (NASDAQ:CCOI) has risen 21.14% since December 2, 2017 and is uptrending. It has outperformed by 5.52% the S&P500.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Ratings Coverage

Among 3 analysts covering Cogent Comms Hldgs (NASDAQ:CCOI), 0 have Buy rating, 1 Sell and 2 Hold. Therefore 0 are positive. Cogent Comms Hldgs had 3 analyst reports since October 8, 2018 according to SRatingsIntel. Wells Fargo maintained the shares of CCOI in report on Friday, November 2 with “Market Perform” rating. Citigroup maintained Cogent Communications Holdings, Inc. (NASDAQ:CCOI) rating on Friday, November 2. Citigroup has “Sell” rating and $42 target. The company was downgraded on Monday, October 8 by BTIG Research.

More notable recent Cogent Communications Holdings, Inc. (NASDAQ:CCOI) news were published by: Seekingalpha.com which released: “Cogent Communications Holdings (CCOI) Q1 2018 Results – Earnings Call Transcript – Seeking Alpha” on May 03, 2018, also Stockhouse.com with their article: “Cogent Communications Reports Third Quarter 2018 Results and Increases Regular Quarterly Dividend on Common Stock – Stockhouse” published on November 01, 2018, Benzinga.com published: “Deutsche Bank Steps To The Sidelines On Cogent Communications – Benzinga” on May 04, 2018. More interesting news about Cogent Communications Holdings, Inc. (NASDAQ:CCOI) were released by: Seekingalpha.com and their article: “Telecom drags as worst sector today – Seeking Alpha” published on September 04, 2018 as well as Seekingalpha.com‘s news article titled: “Cogent Communications, CEO’s Diligence Is Unlikely To Offset The Decline Of Its Core Business – Seeking Alpha” with publication date: June 27, 2017.

Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access and Internet protocol communications services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia. The company has market cap of $2.19 billion. The firm offers on-net Internet access services to bandwidth-intensive users, such as universities, other Internet service providers, telephone companies, cable television companies, Web hosting companies, content delivery network companies, and commercial content and application service providers; and to corporate clients located in multi-tenant office buildings, including law firms, financial services firms, advertising and marketing firms, and other professional services businesses. It has a 146.05 P/E ratio. It also provides its on-net services in carrier-neutral data centers, Cogent controlled data centers, and single-tenant office buildings.

Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Institutional Positions Chart

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