Tucows Inc. (TCX) Sees Large Drop in Short Interest

Tucows Inc. (NASDAQ:TCX) (TSE:TC) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 2,364,482 shares, a drop of 2.5% from the July 13th total of 2,426,076 shares. Currently, 29.4% of the shares of the stock are short sold. Based on an average trading volume of 70,778 shares, the short-interest ratio is currently 33.4 days.

Separately, BidaskClub cut shares of Tucows from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th.

Shares of NASDAQ:TCX opened at $55.00 on Friday. Tucows has a 52 week low of $49.70 and a 52 week high of $71.75. The firm has a market capitalization of $596.25 million, a price-to-earnings ratio of 37.72 and a beta of 0.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.80.

In other Tucows news, Director Jeffrey Nathan Schwartz sold 10,000 shares of Tucows stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $62.29, for a total value of $622,900.00. Following the completion of the transaction, the director now directly owns 25,625 shares of the company’s stock, valued at approximately $1,596,181.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jody Stocks sold 500 shares of Tucows stock in a transaction on Friday, June 15th. The stock was sold at an average price of $66.02, for a total transaction of $33,010.00. Following the completion of the transaction, the vice president now directly owns 3,324 shares of the company’s stock, valued at $219,450.48. The disclosure for this sale can be found here. Insiders have sold 17,166 shares of company stock valued at $1,090,200 over the last ninety days. 11.80% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV boosted its stake in shares of Tucows by 13.8% during the 1st quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 1,028,992 shares of the information services provider’s stock worth $57,624,000 after purchasing an additional 124,700 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of Tucows by 4.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 690,363 shares of the information services provider’s stock worth $41,748,000 after purchasing an additional 29,585 shares during the period. BlackRock Inc. boosted its stake in shares of Tucows by 11.4% during the 2nd quarter. BlackRock Inc. now owns 486,414 shares of the information services provider’s stock worth $29,502,000 after purchasing an additional 49,911 shares during the period. Manitou Investment Management Ltd. purchased a new position in shares of Tucows during the 2nd quarter worth about $4,765,000. Finally, First Allied Advisory Services Inc. boosted its stake in shares of Tucows by 27.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 45,880 shares of the information services provider’s stock worth $2,786,000 after purchasing an additional 9,830 shares during the period. 55.18% of the stock is owned by institutional investors and hedge funds.

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 offers mobile and fixed high-speed Internet access services, and Internet hosting and network consulting services.

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