Tucows (NASDAQ:TCX) Cut to Hold at BidaskClub

BidaskClub cut shares of Tucows (NASDAQ:TCX) (TSE:TC) from a buy rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

TCX has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Tucows from a buy rating to a sell rating in a report on Thursday, May 16th. Echelon Wealth Partners restated a buy rating on shares of Tucows in a report on Tuesday, March 19th. Finally, ValuEngine upgraded shares of Tucows from a buy rating to a strong-buy rating in a report on Friday, March 1st.

Shares of NASDAQ TCX opened at $60.29 on Friday. The stock has a market cap of $642.39 million, a PE ratio of 37.92 and a beta of 1.13. Tucows has a 12 month low of $49.69 and a 12 month high of $90.21. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.93.

Tucows (NASDAQ:TCX) (TSE:TC) last issued its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Tucows had a return on equity of 21.03% and a net margin of 4.92%. The firm had revenue of $78.95 million for the quarter, compared to analysts’ expectations of $83.00 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was down 17.6% compared to the same quarter last year. On average, research analysts predict that Tucows will post 1.94 earnings per share for the current fiscal year.

In other Tucows news, EVP David John Woroch sold 6,000 shares of Tucows stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $60.68, for a total transaction of $364,080.00. Following the transaction, the executive vice president now directly owns 52,872 shares of the company’s stock, valued at $3,208,272.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Elliot Noss sold 1,500 shares of Tucows stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $79.52, for a total transaction of $119,280.00. Following the transaction, the chief executive officer now directly owns 555,635 shares in the company, valued at $44,184,095.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,500 shares of company stock valued at $801,360. 11.80% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Tucows by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 76,213 shares of the information services provider’s stock valued at $4,249,000 after buying an additional 4,143 shares during the period. Rhumbline Advisers lifted its holdings in shares of Tucows by 48.7% during the 4th quarter. Rhumbline Advisers now owns 12,298 shares of the information services provider’s stock valued at $739,000 after buying an additional 4,026 shares during the period. LPL Financial LLC bought a new position in shares of Tucows during the 4th quarter valued at $2,303,000. BlackRock Inc. lifted its holdings in shares of Tucows by 0.9% during the 4th quarter. BlackRock Inc. now owns 497,236 shares of the information services provider’s stock valued at $29,864,000 after buying an additional 4,562 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Tucows by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 28,760 shares of the information services provider’s stock valued at $1,727,000 after buying an additional 1,065 shares during the period. 58.79% of the stock is currently owned by hedge funds and other institutional investors.

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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