WASHINGTON, D.C. -- In its proxy statement, Cogent Communications Group (NasdaqGS: CCOI) disclosed that Peninsula Capital Advisors, LLC and its affiliates hold 4,200,000 shares or 9.15 percent of the company's common stock.
Peninsula Capital's holdings are worth $62.20 million, at Cogent's Monday closing price of $14.81.
Cogent Communications hooks up office buildings to the Internet in over 155 markets in North America and Europe. The company is led by CEO Dave Schaeffer, who founded the company in 1999.
For the fourth quarter of 2010, Cogent reported diluted net income (loss) per share of $0.06, versus $(0.03) 2009. For the year diluted net income (loss) per share was $0.01, against $(0.39) for the year ended December 31, 2009. Service revenue for the fourth quarter was $69.5 million, up 11.1 percent over $62.5 million for the three months ended December 31, 2009. Service revenue was $263.4 million for the year, an increase of 11.7 percent over $235.8 million for 2009.
Peninsula Capital is a privately owned hedge fund sponsor that was founded in 2000 and is based in Charlottesville, Va. R. Ted Weschler founded the firm and serves as managing partner.
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