Tucows (NASDAQ:TCX) Announces Quarterly Earnings Results

Key Points

• Tucows reported an earnings per share (EPS) of ($1.41) for the quarter, with total revenues of $98.46 million.
• The company's stock price increased by 10.1%, trading at $19.90, after the earnings announcement.
• Goldman Sachs raised its stake in Tucows by 89.6% during the first quarter, now owning 0.34% of the company.

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

Tucows Stock Performance

Shares of Tucows stock traded down $1.59 on Thursday, hitting $19.04. The company's stock had a trading volume of 19,719 shares, compared to its average volume of 17,693. Tucows has a 1 year low of $13.27 and a 1 year high of $24.02. The firm has a fifty day moving average price of $20.17 and a 200-day moving average price of $18.37. The company has a market capitalization of $210.96 million, a price-to-earnings ratio of -2.13 and a beta of 0.81.

Insider Buying and Selling at Tucows

In related news, CEO Elliot Noss sold 3,200 shares of Tucows stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $20.44, for a total value of $65,408.00. Following the completion of the transaction, the chief executive officer owned 452,098 shares in the company, valued at $9,240,883.12. The trade was a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 12,000 shares of company stock valued at $252,366. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Tucows

An institutional investor recently raised its position in Tucows stock. Goldman Sachs Group Inc. raised its position in Tucows Inc. (NASDAQ:TCX - Free Report) TSE: TC by 89.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,119 shares of the information services provider's stock after buying an additional 17,539 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of Tucows worth $627,000 at the end of the most recent reporting period. Institutional investors own 73.64% 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.