Manitou Investment Management Ltd. trimmed its position in Tucows Inc. (NASDAQ:TCX) (TSE:TC) by 73.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,308 shares of the information services provider’s stock after selling 44,006 shares during the period. Tucows comprises 0.2% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 24th biggest position. Manitou Investment Management Ltd.’s holdings in Tucows were worth $883,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can grew its position in Tucows by 840.4% in the 2nd quarter. Bank of Montreal Can now owns 2,097 shares of the information services provider’s stock worth $128,000 after purchasing an additional 1,874 shares in the last quarter. Royal Bank of Canada grew its position in Tucows by 24.6% in the 2nd quarter. Royal Bank of Canada now owns 4,081 shares of the information services provider’s stock worth $249,000 after purchasing an additional 806 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tucows by 156.8% in the second quarter. JPMorgan Chase & Co. now owns 5,961 shares of the information services provider’s stock valued at $354,000 after acquiring an additional 3,640 shares during the last quarter. CLARET ASSET MANAGEMENT Corp boosted its stake in Tucows by 7.8% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 6,432 shares of the information services provider’s stock valued at $348,000 after acquiring an additional 463 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Tucows by 17.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 7,949 shares of the information services provider’s stock valued at $485,000 after acquiring an additional 1,200 shares during the last quarter. 63.82% of the stock is owned by institutional investors and hedge funds.
TCX has been the topic of a number of research analyst reports. TheStreet cut shares of Tucows from a “b-” rating to a “c+” rating in a research note on Monday, July 29th. BidaskClub upgraded shares of Tucows from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Zacks Investment Research cut shares of Tucows from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, ValuEngine upgraded shares of Tucows from a “strong sell” rating to a “sell” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $100.00.
In other news, CEO Elliot Noss sold 1,500 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $51.24, for a total value of $76,860.00. Following the transaction, the chief executive officer now owns 551,260 shares of the company’s stock, valued at approximately $28,246,562.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.50% of the stock is owned by corporate insiders.
TCX traded down $0.06 during midday trading on Friday, reaching $59.24. The company had a trading volume of 44,400 shares, compared to its average volume of 88,001. Tucows Inc. has a 12-month low of $45.01 and a 12-month high of $90.21. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.89 and a current ratio of 0.90. The stock has a market cap of $596.84 million, a PE ratio of 37.26 and a beta of 1.17. The business has a 50-day moving average price of $55.05 and a two-hundred day moving average price of $58.34.
Tucows (NASDAQ:TCX) (TSE:TC) last posted its earnings results on Wednesday, August 7th. The information services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.05). Tucows had a return on equity of 18.67% and a net margin of 4.57%. The firm had revenue of $84.11 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Tucows Inc. will post 1.19 earnings per share for the current year.
Tucows Company Profile
Tucows Inc provides network access, domain name registration, email, mobile telephony, and other Internet services in Canada, the United States, and Germany. It operates in two segments, Network Access Services and Domain Services. The Network Access Services segment engages in the provision of mobile services under the Ting Mobile name, including the sale of retail telephony services, mobile phone hardware, and related accessories.
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