On February 17, 2026, MIG Capital disclosed a brand new place in Cogent Communications (NASDAQ:CCOI), buying 569,220 shares value $12.27 million at quarter’s finish.
In keeping with an SEC submitting dated February 17, 2026, MIG Capital initiated a brand new place in Cogent Communications, buying 569,220 shares. The quarter-end worth of the place elevated by $12.27 million.
This represents a brand new place for MIG Capital, accounting for two.08% of reportable property beneath administration as of December 31, 2025.
High holdings after the submitting:
NASDAQ:META: $52.45 million (8.9% of AUM)
NASDAQ:DXCM: $40.19 million (6.8% of AUM)
NASDAQ:SHC: $34.65 million (5.9% of AUM)
NASDAQ:MSFT: $34.25 million (5.8% of AUM)
NASDAQ:CELH: $33.93 million (5.8% of AUM)
As of Friday, shares of Cogent Communications have been priced at $18.80, down a staggering 72% over the previous yr and nicely underperforming the S&P 500’s roughly 20% achieve in the identical interval.
Metric | Worth |
|---|---|
Income (TTM) | $975.8 million |
Web earnings (TTM) | ($182.2 million) |
Dividend yield | 11% |
Worth (as of Friday) | $26.46 |
Cogent Communications offers high-speed web entry, non-public community providers, and knowledge heart colocation throughout a number of continents.
The agency generates income primarily by recurring service contracts for bandwidth, community connectivity, and colocation amenities.
It serves small and medium-sized companies, communications service suppliers, and bandwidth-intensive organizations.
Cogent Communications operates a worldwide community delivering web, non-public networking, and knowledge heart providers to business shoppers. The corporate leverages its in depth infrastructure of information facilities and connections to hundreds of buildings to supply dependable, high-capacity connectivity options.
Sharp sell-offs usually encourage some traders to take contrarian bets, and Cogent Communications has been an enormous laggard over the previous yr, with shares down roughly 72% whereas the broader S&P 500 gained about 20%. That kind of divergence tends to draw traders on the lookout for conditions the place sentiment could have swung too far.
Cogent’s newest earnings confirmed service income of $240.5 million, down barely from $241.9 million within the third quarter. Like many infrastructure-heavy telecom companies, Cogent faces strain from debt prices and integration challenges tied to community growth, however the long-term demand image for web capability stays intact. Plus, the agency pays an 11% dividend, which translated to 4 quarterly funds totaling $3.05 per share final yr.
Throughout the broader portfolio, the brand new place is comparatively modest at simply over 2% of property, particularly in contrast with bigger holdings equivalent to Meta, DexCom, and Microsoft. In the end, it looks like that kind of positioning suggests a measured guess on a beaten-down infrastructure supplier moderately than a excessive conviction core holding.
