Morgan Stanley Sells 1,654 Shares of Tucows Inc. (TCX)

Morgan Stanley lowered its holdings in Tucows Inc. (NASDAQ:TCX) (TSE:TC) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,449 shares of the information services provider’s stock after selling 1,654 shares during the period. Morgan Stanley owned approximately 0.24% of Tucows worth $1,419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. lifted its stake in shares of Tucows by 47.9% in the third quarter. Bessemer Group Inc. now owns 10,500 shares of the information services provider’s stock worth $585,000 after acquiring an additional 3,400 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in shares of Tucows by 4.7% in the third quarter. Van Berkom & Associates Inc. now owns 722,590 shares of the information services provider’s stock worth $40,190,000 after acquiring an additional 32,227 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Tucows by 43.8% in the third quarter. Martingale Asset Management L P now owns 27,904 shares of the information services provider’s stock worth $1,556,000 after acquiring an additional 8,500 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Tucows by 1.3% in the third quarter. BlackRock Inc. now owns 492,674 shares of the information services provider’s stock worth $27,467,000 after acquiring an additional 6,260 shares in the last quarter. Finally, CLS Investments LLC lifted its stake in shares of Tucows by 14.5% in the third quarter. CLS Investments LLC now owns 563,302 shares of the information services provider’s stock worth $31,404,000 after acquiring an additional 71,302 shares in the last quarter. 58.75% of the stock is owned by hedge funds and other institutional investors.

TCX has been the topic of several recent analyst reports. BidaskClub upgraded Tucows from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. ValuEngine upgraded Tucows from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 1st. Finally, Echelon Wealth Partners reiterated a “buy” rating on shares of Tucows in a research note on Wednesday, February 13th.

In other Tucows news, CEO Elliot Noss sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $62.75, for a total transaction of $94,125.00. Following the sale, the chief executive officer now owns 555,260 shares in the company, valued at $34,842,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rawleigh Hazen Iv Ralls sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $77.85, for a total value of $389,250.00. Following the sale, the director now owns 6,761 shares in the company, valued at approximately $526,343.85. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock worth $904,345 in the last 90 days. 11.80% of the stock is currently owned by insiders.

Shares of NASDAQ TCX opened at $80.03 on Tuesday. Tucows Inc. has a 52-week low of $49.69 and a 52-week high of $80.34. The company has a market cap of $851.76 million, a price-to-earnings ratio of 50.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 0.80.

Tucows (NASDAQ:TCX) (TSE:TC) last announced its quarterly earnings data on Wednesday, February 13th. The information services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.06). Tucows had a net margin of 4.95% and a return on equity of 23.64%. The firm had revenue of $85.60 million for the quarter, compared to analyst estimates of $84.00 million. During the same quarter in the previous year, the company earned $1.04 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Tucows Inc. will post 1.98 EPS for the current fiscal year.

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About Tucows

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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Institutional Ownership by Quarter for Tucows (NASDAQ:TCX)

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