This Internet Infrastructure Stock Plunged 72% in a Year, so Why Did an Investor Buy Up $12 Million?

MIG Capital bought 569,220 shares of Cogent Communications in the fourth quarter, increasing its quarter-end position value by $12.27 million. The purchase signals accumulation by MIG but is a relatively small capital move unlikely to materially affect Cogent's market capitalization; monitor for any follow-on activity.

Analysis

MIG Capital bought 569,220 shares of Cogent Communications in the fourth quarter, increasing its quarter-end position value by $12.27 million. The purchase signals accumulation by MIG but is a relatively small capital move unlikely to materially affect Cogent's market capitalization; monitor for any follow-on activity.