Tucows Inc. (NASDAQ:TCX) Upgraded to “Buy” at BidaskClub
Tucows Inc. (NASDAQ:TCX) (TSE:TC) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Sunday.
Separately, Zacks Investment Research upgraded shares of Tucows from a “sell” rating to a “hold” rating in a research report on Thursday.
Tucows (NASDAQ:TCX) traded down 1.52% during trading on Friday, reaching $58.45. 70,989 shares of the company were exchanged. The company has a market capitalization of $614.25 million, a P/E ratio of 44.35 and a beta of 1.37. The firm’s 50-day moving average is $57.99 and its 200 day moving average is $50.18. Tucows has a one year low of $25.78 and a one year high of $63.20.
Tucows (NASDAQ:TCX) (TSE:TC) last announced its earnings results on Tuesday, May 9th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.13. Tucows had a net margin of 6.55% and a return on equity of 43.00%. The company had revenue of $69.60 million for the quarter, compared to the consensus estimate of $84.05 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 55.7% compared to the same quarter last year. On average, analysts anticipate that Tucows will post $2.20 EPS for the current fiscal year.
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In other Tucows news, Director Rawleigh Hazen Iv Ralls sold 52,500 shares of Tucows stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $56.79, for a total transaction of $2,981,475.00. Following the transaction, the director now directly owns 34,355 shares of the company’s stock, valued at $1,951,020.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Goldstein sold 9,876 shares of Tucows stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $58.76, for a total transaction of $580,313.76. Following the transaction, the vice president now directly owns 4,163 shares in the company, valued at $244,617.88. The disclosure for this sale can be found here. Insiders have sold 185,701 shares of company stock worth $10,773,117 over the last three months. Insiders own 17.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its position in Tucows by 86.2% in the first quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 472,950 shares of the information services provider’s stock valued at $24,145,000 after buying an additional 218,989 shares during the period. Bank of New York Mellon Corp acquired a new position in Tucows during the first quarter valued at approximately $5,619,000. CLS Investments LLC acquired a new position in Tucows during the first quarter valued at approximately $2,237,000. Renaissance Technologies LLC increased its position in Tucows by 5.6% in the first quarter. Renaissance Technologies LLC now owns 760,651 shares of the information services provider’s stock valued at $38,831,000 after buying an additional 40,600 shares during the period. Finally, Spark Investment Management LLC purchased a new position in shares of Tucows during the first quarter valued at approximately $423,000. 29.58% of the stock is currently owned by hedge funds and other institutional investors.
Tucows Company Profile
Tucows Inc is engaged in providing Internet services. The Company’s segments include Network Access Services and Domain Services. The Network Access Services segment includes mobile, fixed high-speed Internet access services, Internet hosting and network consulting services. The Domain Services segment wholesale and retail domain name registration services, value added services and portfolio services.
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