Tucows (NASDAQ:TCX) Announces 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 earnings results on Thursday. The information services provider reported ($1.41) EPS for the quarter, Zacks reports. The company had revenue of $98.46 million during the quarter.

Tucows Trading Up 10.1%

Tucows stock traded up $1.82 during midday trading on Friday, reaching $19.90. 20,272 shares of the stock traded hands, compared to its average volume of 22,060. The company has a 50-day simple moving average of $20.12 and a two-hundred day simple moving average of $18.28. Tucows has a 12-month low of $13.27 and a 12-month high of $24.02. The firm has a market cap of $220.09 million, a PE ratio of -2.23 and a beta of 0.81.

Insider Buying and Selling

In related news, CEO Elliot Noss sold 3,200 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $20.44, for a total transaction of $65,408.00. Following the completion of the transaction, the chief executive officer directly owned 452,098 shares in the company, valued at $9,240,883.12. This trade represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 12,000 shares of company stock worth $252,366. Company insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Tucows

A hedge fund recently raised its stake in Tucows stock. Goldman Sachs Group Inc. lifted its holdings in shares of Tucows Inc. (NASDAQ:TCX - Free Report) TSE: TC by 89.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,119 shares of the information services provider's stock after acquiring an additional 17,539 shares during the period. Goldman Sachs Group Inc. owned 0.34% of Tucows worth $627,000 at the end of the most recent reporting period. Hedge funds and other 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.

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