Arrowstreet Capital Limited Partnership Has $3.98 Million Holdings in SNDL Inc. $SNDL

Key Points

• Arrowstreet Capital reduced its SNDL position by 26.7% in the first quarter, selling 1.09 million shares and retaining 2.996 million shares valued at approximately $3.98 million, or 1.16% of the company.
• SNDL shares opened at $1.23, near the company’s 52-week low of $1.17, while the cannabis company reported a quarterly loss of $0.02 per share and revenue of $165.94 million, slightly below estimates.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating; MarketBeat lists an overall Hold rating and an average price target of $5.00.

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of SNDL Inc. (NASDAQ:SNDL - Free Report) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,996,423 shares of the company's stock after selling 1,091,404 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.16% of SNDL worth $3,977,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SNDL. AdvisorShares Investments LLC grew its position in shares of SNDL by 10.5% during the 4th quarter. AdvisorShares Investments LLC now owns 3,637,388 shares of the company's stock worth $6,038,000 after purchasing an additional 344,896 shares in the last quarter. Man Group plc increased its holdings in shares of SNDL by 1,126.4% during the third quarter. Man Group plc now owns 463,588 shares of the company's stock worth $1,242,000 after purchasing an additional 425,788 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of SNDL in the third quarter valued at approximately $675,000. JPMorgan Chase & Co. acquired a new stake in shares of SNDL in the third quarter valued at approximately $5,039,000. Finally, SkyView Investment Advisors LLC boosted its stake in shares of SNDL by 4.5% in the second quarter. SkyView Investment Advisors LLC now owns 288,301 shares of the company's stock valued at $355,000 after buying an additional 12,467 shares during the period.

SNDL Stock Down 0.4%

NASDAQ SNDL opened at $1.23 on Tuesday. The business has a fifty day moving average price of $1.36 and a two-hundred day moving average price of $1.44. The stock has a market capitalization of $315.31 million, a PE ratio of -20.42 and a beta of 0.93. SNDL Inc. has a fifty-two week low of $1.17 and a fifty-two week high of $2.89. 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 quarterly earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. The business had revenue of $165.94 million during the quarter, compared to the consensus estimate of $166.26 million. Equities analysts expect that SNDL Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded SNDL from a "hold" rating to a "sell" rating in a research report on Saturday. Zacks Research raised SNDL from a "strong sell" rating to a "hold" rating in a report on Thursday, May 28th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of SNDL in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, SNDL has an average rating of "Hold" and an average target price of $5.00.

SNDL Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.