SEC Watch Reporter: Rivulet Capital LLC Has Trimmed Its Cogent Communications Hldgs (CCOI) Stake by $10.15 Million; Market Value Declined

SEC Watch Reporter: Rivulet Capital LLC Has Trimmed Its Cogent Communications Hldgs (CCOI) Stake by $10.15 Million; Market Value Declined

Barry Lebovits decreased its stake in Cogent Communications Hldgs (CCOI) by 34.89% based on its latest 2016Q3 regulatory filing with the SEC. Rivulet Capital Llc sold 281,980 shares as the company’s stock declined 8.89% while stock markets rallied. The hedge fund run by Barry Lebovits held 526,120 shares of the technology company at the end of 2016Q3, valued at $19.37M, down from 808,100 at the end of the previous reported quarter. Rivulet Capital Llc who had been investing in Cogent Communications Hldgs for a number of months, seems to be less bullish one the $1.89B market cap company. The stock is down 0.24% or $0.1 after the negative news, hitting $41.4 per share. About 77,069 shares traded hands. Cogent Communications Holdings Inc (NASDAQ:CCOI) has risen 2.04% since June 7, 2016 and is uptrending. It has underperformed by 5.38% the S&P500.

Rivulet Capital Llc, which manages about $221.95M and $489.84 million US Long portfolio, upped its stake in Axalta Coating Sys Ltd by 502,400 shares to 1.75M shares, valued at $49.44 million in 2016Q3, according to the filing. It also increased its holding in Interxion Holding N.V (NYSE:INXN) by 378,180 shares in the quarter, for a total of 2.50 million shares, and has risen its stake in Nomad Hldgs Ltd.

Rivulet Capital Llc is a New York-based hedge fund that was founded by Barry Lebovits And Joshua Kuntz. It had more than $221.95 million assets under management in June, 2014. Taken from Rivulet Capital latest Adv, the fund reported to have 6 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Insitutional Activity: The institutional sentiment increased to 0.81 in Q3 2016. Its up 0.03, from 0.78 in 2016Q2. The ratio increased, as 22 funds sold all CCOI shares owned while 72 reduced positions. 25 funds bought stakes while 51 increased positions. They now own 43.23 million shares or 2.35% less from 44.27 million shares in 2016Q2. Rbf Capital Limited Liability Co has 0.13% invested in the company for 20,000 shares. Alliancebernstein Limited Partnership, a New York-based fund reported 62,361 shares. Kornitzer Cap Management Ks has 449,610 shares for 0.3% of their US portfolio. Moreover, Granahan Investment Mgmt Incorporated Ma has 0.56% invested in Cogent Communications Holdings Inc (NASDAQ:CCOI) for 464,289 shares. Blackrock, a New York-based fund reported 4,489 shares. Walleye Trading Limited Com holds 164 shares or 0% of its portfolio. Federated Investors Pa last reported 389 shares in the company. Citigroup accumulated 31,389 shares or 0% of the stock. Timessquare Cap Limited Co accumulated 0.24% or 999,275 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 1,188 shares or 0% of all its holdings. Reaves W H owns 54,589 shares or 0.07% of their US portfolio. Invesco Ltd holds 0% or 151,973 shares in its portfolio. Cwm Lc has 122,956 shares for 0.31% of their US portfolio. Old Mutual Investors (Uk) Ltd has invested 0.01% of its portfolio in Cogent Communications Holdings Inc (NASDAQ:CCOI). Moody Retail Bank Trust Division owns 20,200 shares or 0.04% of their US portfolio.

Insider Transactions: Since August 1, 2016, the stock had 0 buys, and 19 sales for $1.06 million net activity. BEURY ROBERT N JR sold $35,404 worth of Cogent Communications Holdings Inc (NASDAQ:CCOI) on Thursday, September 1. Another trade for 1,000 shares valued at $36,150 was sold by KILMER HENRY W. Another trade for 233 shares valued at $8,447 was sold by BUBECK JAMES. 1,000 shares were sold by ONEILL TIMOTHY G, worth $36,780 on Monday, October 3. WEED THADDEUS GERARD sold $81,350 worth of Cogent Communications Holdings Inc (NASDAQ:CCOI) on Tuesday, December 13. Another trade for 1,000 shares valued at $42,526 was sold by KUMMER RAYMOND B.

Analysts await Cogent Communications Holdings Inc (NASDAQ:CCOI) to report earnings on February, 23. They expect $0.12 EPS, up 100.00% or $0.06 from last year’s $0.06 per share. CCOI’s profit will be $5.48 million for 86.25 P/E if the $0.12 EPS becomes a reality. After $0.08 actual EPS reported by Cogent Communications Holdings Inc for the previous quarter, Wall Street now forecasts 50.00% EPS growth.

More recent Cogent Communications Holdings Inc (NASDAQ:CCOI) news were published by: Marketwatch.com which released: “Cogent Communications Holdings Inc.” on March 29, 2011. Also Seekingalpha.com published the news titled: “Cogent Communications Holdings (CCOI) Q3 2016 Results – Earnings Call Transcript” on November 03, 2016. Prnewswire.com‘s news article titled: “Cogent Launches Notes Offering” with publication date: November 28, 2016 was also an interesting one.

According to Zacks Investment Research, “Cogent Communications Holdings Inc. specializes in providing businesses with high speed Internet access, Ethernet transport, and colocation services. It offers on-net Internet access services to bandwidth-intensive users and on-net services in carrier-neutral co-location facilities, company controlled data centers, and single-tenant office buildings. In addition, it offers off-net services to businesses that are connected to its network primarily by means of ‘last mile’ access service lines obtained from other carriers primarily in the form of point-to-point carrier Ethernet, TDM, POS, SDH, and/or carrier Ethernet circuits. Cogent Communications Holdings Inc., formerly known as Cogent Communications Group, Inc., is headquartered in Washington, the District of Columbia.”

Cogent Communications Holdings Inc (NASDAQ:CCOI) Ratings Coverage

Out of 7 analysts covering Cogent Communications Group Inc. (NASDAQ:CCOI), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Cogent Communications Group Inc. has been the topic of 23 analyst reports since August 7, 2015 according to StockzIntelligence Inc. As per Wednesday, April 6, the company rating was downgraded by Citigroup. The firm has “Outperform” rating by RBC Capital Markets given on Tuesday, September 22. The firm has “Buy” rating given on Tuesday, December 13 by SunTrust. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, February 26. On Monday, September 26 the stock rating was reinitiated by JP Morgan with “Neutral”. The firm has “Neutral” rating by Citigroup given on Wednesday, July 27. As per Tuesday, December 13, the company rating was initiated by Suntrust Robinson. Citigroup maintained Cogent Communications Holdings Inc (NASDAQ:CCOI) rating on Friday, August 12. Citigroup has “Neutral” rating and $41 price target. The rating was maintained by Off Wall Street on Friday, August 7 with “Sell”. The rating was maintained by Citigroup on Friday, August 7 with “Buy”.

CCOI Company Profile

Cogent Communications Holdings, Inc., incorporated on April 17, 2014, is a facility well-known provider of Internet access and Internet Protocol (IP) communications services. The Company’s network is designed and optimized to transmit data using IP. The Firm delivers its services to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and Asia. The Firm offers on-net Internet access services through its own facilities, which run from its network to its customers’ premises. The Firm offers its on-net services to clients located in buildings that are physically connected to its network. The Company’s on-net service consists of high-speed 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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