BlackRock Amends Cogent Stake: Now Owns 10.7% of Common Stock
Ticker: CCOI · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 1158324
| Field | Detail |
|---|---|
| Company | Cogent Communications Holdings, Inc. (CCOI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock now owns 10.7% of Cogent Communications, a notable institutional stake.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, disclosing its ownership in Cogent Communications Holdings, Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 5,038,150 shares of Common Stock, representing 10.7% of the company's outstanding shares. This is an amendment (No. 14) to a previous filing, indicating a change in their holdings. This matters to investors because BlackRock is a major institutional investor, and changes in their stake can signal their confidence (or lack thereof) in Cogent's future performance, potentially influencing other investors.
Why It Matters
BlackRock's significant 10.7% stake in Cogent Communications Holdings, Inc. means they are a major influencer, and their investment decisions can impact stock price and corporate governance.
Risk Assessment
Risk Level: low — This filing is an update on institutional ownership and does not inherently introduce new risks, but rather provides transparency.
Analyst Insight
Investors should note BlackRock's continued significant stake, which suggests institutional confidence, but should also monitor future filings for any substantial changes in their position, as large institutional moves can influence market sentiment.
Key Numbers
- 5,038,150 — Shares Beneficially Owned (Represents BlackRock's total stake in Cogent Communications Holdings, Inc. as of December 31, 2023.)
- 10.7% — Percentage of Class (Indicates BlackRock's significant ownership percentage of Cogent's Common Stock.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Cogent Communications Holdings, Inc. (company) — the subject company in which BlackRock holds shares
- 5,038,150 shares (dollar_amount) — the total number of shares beneficially owned by BlackRock
- 10.7% (dollar_amount) — the percentage of Cogent's Common Stock beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring this filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant stake in Cogent Communications Holdings, Inc. throughout 2024. (BlackRock Inc.) — medium confidence, target: 2024-12-31
FAQ
What is the purpose of this specific SC 13G/A filing?
This SC 13G/A is an amendment (Amendment No. 14) filed by BlackRock Inc. to update its beneficial ownership of Common Stock in Cogent Communications Holdings, Inc. as of December 31, 2023, under Rule 13d-1(b).
Which entity filed this SC 13G/A and for which company's securities?
BlackRock Inc. filed this SC 13G/A regarding the Common Stock of Cogent Communications Holdings, Inc.
What was BlackRock's beneficial ownership percentage in Cogent Communications Holdings, Inc. as reported in this filing?
As of December 31, 2023, BlackRock Inc. reported beneficial ownership of 10.7% of the Common Stock of Cogent Communications Holdings, Inc.
How many shares of Common Stock does BlackRock Inc. beneficially own in Cogent Communications Holdings, Inc. according to this filing?
BlackRock Inc. beneficially owns 5,038,150 shares of Common Stock in Cogent Communications Holdings, Inc. as stated in the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI).