State Street Corp Takes $6.98 Million Position in Tucows Inc. (TCX)
State Street Corp acquired a new position in shares of Tucows Inc. (NASDAQ:TCX) (TSE:TC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 130,474 shares of the information services provider’s stock, valued at approximately $6,980,000. State Street Corp owned approximately 1.24% of Tucows at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank purchased a new stake in shares of Tucows during the 2nd quarter worth approximately $701,000. Bank of New York Mellon Corp raised its holdings in shares of Tucows by 310.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 451,975 shares of the information services provider’s stock worth $24,181,000 after acquiring an additional 341,913 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Tucows during the 2nd quarter worth approximately $803,000. Nationwide Fund Advisors purchased a new stake in shares of Tucows during the 2nd quarter worth approximately $270,000. Finally, California Public Employees Retirement System increased its position in shares of Tucows by 6.0% during the 2nd quarter. California Public Employees Retirement System now owns 43,900 shares of the information services provider’s stock valued at $2,349,000 after purchasing an additional 2,500 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.
TCX has been the topic of several analyst reports. BidaskClub downgraded Tucows from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research downgraded Tucows from a “hold” rating to a “sell” rating in a research report on Friday, August 11th.
In other news, Director Allen Karp sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $63.31, for a total transaction of $189,930.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rawleigh Hazen Iv Ralls sold 6,877 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $53.50, for a total value of $367,919.50. Following the transaction, the director now directly owns 17,649 shares in the company, valued at approximately $944,221.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,694 shares of company stock worth $2,210,180. Corporate insiders own 13.20% of the company’s stock.
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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