Arrowstreet Capital Limited Partnership Acquires New Shares in SNDL Inc. (NASDAQ:SNDL)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of SNDL Inc. (NASDAQ:SNDL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,248,922 shares of the company's stock, valued at approximately $2,236,000. Arrowstreet Capital Limited Partnership owned about 0.48% of SNDL as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of SNDL during the fourth quarter valued at $25,000. EntryPoint Capital LLC acquired a new stake in SNDL during the 4th quarter worth about $32,000. SBI Securities Co. Ltd. purchased a new stake in SNDL during the fourth quarter valued at about $69,000. Transform Wealth LLC acquired a new position in shares of SNDL in the fourth quarter worth about $87,000. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of SNDL by 18.4% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 64,420 shares of the company's stock worth $115,000 after acquiring an additional 10,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, ATB Capital upped their price target on shares of SNDL from $3.50 to $4.00 in a research report on Wednesday, March 19th.

SNDL Stock Up 0.4 %

Shares of SNDL stock traded up $0.01 during midday trading on Tuesday, hitting $1.34. The company's stock had a trading volume of 308,628 shares, compared to its average volume of 2,623,626. The firm has a market capitalization of $350.81 million, a P/E ratio of -4.31 and a beta of 3.23. SNDL Inc. has a 1-year low of $1.26 and a 1-year high of $2.93. The company has a quick ratio of 4.16, a current ratio of 5.61 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $1.57 and a 200-day simple moving average of $1.80.

SNDL (NASDAQ:SNDL - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.18). The business had revenue of $179.06 million for the quarter, compared to analysts' expectations of $248.10 million. SNDL had a negative net margin of 12.11% and a negative return on equity of 8.27%. As a group, sell-side analysts expect that SNDL Inc. will post -0.09 earnings per share for the current year.

SNDL Company Profile

SNDL Inc engages in the production, distribution, and sale of cannabis products in Canada. The company operates through Liquor Retail, Cannabis Retail, Cannabis Operations, and Investments segments. It engages in the cultivation, distribution, and sale of cannabis for the adult-use and medical markets; sells wines, beers, and spirits through wholly owned liquor stores; and private sale of recreational cannabis through wholly owned and franchised retail cannabis stores.