Short Interest in Tucows Inc. (NASDAQ:TCX) Grows By 77.4%
Tucows Inc. (NASDAQ:TCX) (TSE:TC) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,285,350 shares, an increase of 77.4% from the June 15th total of 724,475 shares. Currently, 15.9% of the company’s shares are short sold. Based on an average daily trading volume, of 239,041 shares, the days-to-cover ratio is currently 5.4 days.
In other news, Director Allen Karp sold 1,900 shares of Tucows stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $59.92, for a total transaction of $113,848.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 sale, the vice president now owns 4,163 shares of the company’s stock, valued at approximately $244,617.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,701 shares of company stock valued at $10,773,117. 17.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Tucows by 5.6% in the first quarter. Renaissance Technologies LLC now owns 760,651 shares of the information services provider’s stock worth $38,831,000 after buying an additional 40,600 shares during the period. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its position in shares of Tucows by 6.6% in the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 503,961 shares of the information services provider’s stock worth $25,892,000 after buying an additional 31,011 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Tucows by 241.3% in the second quarter. Van Berkom & Associates Inc. now owns 313,272 shares of the information services provider’s stock worth $16,773,000 after buying an additional 221,485 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Tucows during the first quarter worth about $5,619,000. Finally, CLS Investments LLC acquired a new position in shares of Tucows during the first quarter worth about $2,237,000. Institutional investors and hedge funds own 29.91% of the company’s stock.
Several equities research analysts have recently commented on TCX shares. Zacks Investment Research cut shares of Tucows from a “buy” rating to a “sell” rating in a research report on Tuesday, March 28th. BidaskClub upgraded shares of Tucows from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th.
Shares of Tucows (NASDAQ TCX) opened at 55.70 on Friday. The stock’s 50 day moving average is $57.32 and its 200 day moving average is $52.29. Tucows has a 12 month low of $25.78 and a 12 month high of $63.20. The firm has a market cap of $585.35 million, a PE ratio of 42.26 and a beta of 1.37.
Tucows (NASDAQ:TCX) (TSE:TC) last issued its quarterly earnings data on Tuesday, May 9th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by $0.13. The business had revenue of $69.60 million during the quarter, compared to the consensus estimate of $84.05 million. Tucows had a net margin of 6.55% and a return on equity of 43.00%. The firm’s quarterly revenue was up 55.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Analysts forecast that Tucows will post $2.20 EPS for the current fiscal year.
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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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