909,470 Shares in SNDL Inc. $SNDL Bought by Man Group plc

Key Points

• Man Group plc acquired 909,470 SNDL shares in the second quarter, worth approximately $1.23 million and representing a 0.35% stake. Several other institutional investors also initiated or increased positions.
• SNDL shares were up 4.4%, opening at $1.42, while the company reported a quarterly loss of $0.02 per share and revenue of $165.94 million, slightly below estimates.
• Analyst sentiment remains weak: SNDL has a consensus rating of “Reduce”, with one analyst rating it Hold and another rating it Sell.

Man Group plc acquired a new stake in SNDL Inc. (NASDAQ:SNDL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 909,470 shares of the company's stock, valued at approximately $1,228,000. Man Group plc owned 0.35% of SNDL as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SNDL. Renaissance Technologies LLC bought a new stake in shares of SNDL in the 1st quarter valued at about $795,000. OneDigital Investment Advisors LLC acquired a new stake in shares of SNDL in the second quarter valued at about $790,000. AdvisorShares Investments LLC raised its position in shares of SNDL by 10.5% during the fourth quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company's stock worth $6,038,000 after acquiring an additional 344,896 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of SNDL in the fourth quarter worth approximately $148,000. Finally, Lazard Asset Management LLC lifted its stake in shares of SNDL by 14.4% in the first quarter. Lazard Asset Management LLC now owns 1,050,278 shares of the company's stock worth $1,386,000 after acquiring an additional 132,171 shares during the period.

SNDL Stock Up 4.4%

Shares of SNDL stock opened at $1.42 on Thursday. The stock's 50-day moving average is $1.30 and its 200 day moving average is $1.40. SNDL Inc. has a one year low of $1.17 and a one year high of $2.89. The firm has a market cap of $365.51 million, a price-to-earnings ratio of -23.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.76 and a quick ratio of 3.11.

SNDL (NASDAQ:SNDL - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share for the quarter. SNDL had a negative return on equity of 2.01% and a negative net margin of 2.36%.The business had revenue of $165.94 million during the quarter, compared to the consensus estimate of $166.26 million. Equities research analysts anticipate that SNDL Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on SNDL shares. Weiss Ratings upgraded SNDL from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. Zacks Research upgraded shares of SNDL from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of SNDL from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce".

SNDL Profile

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company's product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.

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