Bank of New York Mellon Corp Reduces Stock Holdings in Tucows Inc. (NASDAQ:TCX)

Bank of New York Mellon Corp lessened its holdings in shares of Tucows Inc. (NASDAQ:TCX) (TSE:TC) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,300 shares of the information services provider’s stock after selling 2,743 shares during the period. Bank of New York Mellon Corp’s holdings in Tucows were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TCX. BNP Paribas Financial Markets grew its position in Tucows by 81.5% during the 1st quarter. BNP Paribas Financial Markets now owns 5,281 shares of the information services provider’s stock worth $98,000 after purchasing an additional 2,371 shares during the period. Bard Associates Inc. boosted its stake in shares of Tucows by 5.2% in the fourth quarter. Bard Associates Inc. now owns 16,120 shares of the information services provider’s stock worth $435,000 after buying an additional 800 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tucows by 0.6% during the first quarter. Vanguard Group Inc. now owns 698,465 shares of the information services provider’s stock worth $12,964,000 after acquiring an additional 4,234 shares during the period. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV raised its position in Tucows by 1.0% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 1,989,594 shares of the information services provider’s stock valued at $53,719,000 after acquiring an additional 20,000 shares in the last quarter. 73.64% of the stock is currently owned by institutional investors and hedge funds.

Tucows Stock Down 4.0 %

TCX stock opened at $21.00 on Tuesday. The firm’s fifty day moving average is $22.32 and its 200 day moving average is $20.24. The firm has a market cap of $229.97 million, a PE ratio of -2.21 and a beta of 0.85. Tucows Inc. has a one year low of $15.65 and a one year high of $28.66. The company has a debt-to-equity ratio of 43.87, a quick ratio of 0.90 and a current ratio of 0.93.

Tucows (NASDAQ:TCX) (TSE:TC) last announced its quarterly earnings results on Thursday, August 8th. The information services provider reported ($1.70) earnings per share for the quarter. The business had revenue of $89.42 million during the quarter. Tucows had a negative net margin of 26.01% and a negative return on equity of 490.14%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Tucows from a “sell” rating to a “hold” rating in a research note on Monday, August 12th.

Insider Transactions at Tucows

In other news, CEO Elliot Noss sold 5,700 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $22.03, for a total transaction of $125,571.00. Following the completion of the sale, the chief executive officer now owns 511,058 shares of the company’s stock, valued at $11,258,607.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.60% of the company’s stock.

About Tucows

Tucows Inc provides network access, domain name registration, email, mobile telephony, and other Internet services in North America and Europe. It operates in three segments: Ting, Wavelo and Tucows Domains. The Ting segment provides fiber and fixed wireless internet services. The Wavelo segment offers individual developer tools, subscription, billing management, network orchestration, and provisioning services.