Connor Clark & Lunn Investment Management Ltd. Invests $510,000 in Tucows Inc. $TCX

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 30,100 shares of Tucows Inc., valued at approximately $510,000, marking a new position for the firm in the company's stock.
• Several institutional investors have increased their stakes in Tucows, with major boosts coming from Wells Fargo (25.9%), Bank of America (34.2%), and Jane Street Group (45.8%) during the 4th quarter.
• Tucows has reported a net loss of ($1.41) per share in its most recent earnings, with quarterly revenue of $98.46 million.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Tucows Inc. (NASDAQ:TCX - Free Report) TSE: TC in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,100 shares of the information services provider's stock, valued at approximately $510,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.27% of Tucows at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TCX. Geode Capital Management LLC increased its position in shares of Tucows by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 202,248 shares of the information services provider's stock valued at $3,468,000 after acquiring an additional 1,985 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Tucows by 25.9% during the fourth quarter. Wells Fargo & Company MN now owns 4,213 shares of the information services provider's stock valued at $72,000 after acquiring an additional 867 shares during the last quarter. Barclays PLC increased its position in shares of Tucows by 10.9% during the fourth quarter. Barclays PLC now owns 12,625 shares of the information services provider's stock valued at $216,000 after acquiring an additional 1,240 shares during the last quarter. Northern Trust Corp increased its position in shares of Tucows by 1.5% during the fourth quarter. Northern Trust Corp now owns 78,791 shares of the information services provider's stock valued at $1,350,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Tucows by 45.8% during the fourth quarter. Jane Street Group LLC now owns 19,901 shares of the information services provider's stock valued at $341,000 after acquiring an additional 6,255 shares during the last quarter. 73.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tucows

In other Tucows news, CEO Elliot Noss sold 2,000 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $21.87, for a total value of $43,740.00. Following the completion of the sale, the chief executive officer directly owned 444,498 shares of the company's stock, valued at $9,721,171.26. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 12,000 shares of company stock valued at $252,366 over the last three months. Company insiders own 9.40% of the company's stock.

Tucows Stock Performance

NASDAQ:TCX traded up $0.55 during trading hours on Friday, reaching $19.08. The stock had a trading volume of 30,523 shares, compared to its average volume of 16,422. The stock has a 50 day simple moving average of $20.04 and a 200 day simple moving average of $18.52. Tucows Inc. has a 12-month low of $13.27 and a 12-month high of $24.02. The stock has a market cap of $211.41 million, a P/E ratio of -2.14 and a beta of 0.81.

Tucows (NASDAQ:TCX - Get Free Report) TSE: TC last released its earnings results on Thursday, August 7th. The information services provider reported ($1.41) earnings per share (EPS) for the quarter. The business had revenue of $98.46 million during the quarter.

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.