BidaskClub Downgrades Tucows Inc. (TCX) to Hold
Tucows Inc. (NASDAQ:TCX) (TSE:TC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Separately, Zacks Investment Research upgraded Tucows from a “sell” rating to a “hold” rating in a report on Thursday, July 13th.
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In other Tucows news, Director Rawleigh Hazen Iv Ralls sold 13,658 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $55.68, for a total value of $760,477.44. Following the transaction, the director now owns 22,548 shares in the company, valued at $1,255,472.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 51,352 shares of company stock worth $2,780,727. Corporate insiders own 13.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in shares of Tucows in the second quarter worth approximately $129,000. Strs Ohio purchased a new stake in shares of Tucows in the second quarter worth approximately $139,000. Royal Bank of Canada raised its stake in shares of Tucows by 8.2% in the second quarter. Royal Bank of Canada now owns 3,571 shares of the information services provider’s stock worth $191,000 after purchasing an additional 271 shares during the last quarter. Voya Investment Management LLC purchased a new stake in shares of Tucows in the second quarter worth approximately $223,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Tucows in the first quarter worth approximately $249,000. 42.93% of the stock is owned by hedge funds and other institutional investors.
Tucows Company Profile
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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