Goldman Sachs Group Inc. Decreases Holdings in Tilray Brands, Inc. $TLRY

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in Tilray Brands by 59.3%, now owning 588,045 shares after selling 857,329 shares in the first quarter, valued at approximately $387,000.
• Tilray Brands reported earnings of $0.02 per share, surpassing the consensus estimate of ($0.03), but revenue fell short at $224.54 million against an expectation of $250.41 million.
• Analysts have mixed ratings on Tilray Brands, with two giving a Buy rating, four rating it as Hold, and an average target price set at $1.94.

Goldman Sachs Group Inc. decreased its position in shares of Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 59.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,045 shares of the company's stock after selling 857,329 shares during the quarter. Goldman Sachs Group Inc. owned 0.06% of Tilray Brands worth $387,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Capital Management Associates Inc boosted its stake in shares of Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after acquiring an additional 25,380 shares in the last quarter. Deutsche Bank AG raised its position in shares of Tilray Brands by 62.1% during the 4th quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock worth $101,000 after purchasing an additional 29,054 shares during the last quarter. Madrona Financial Services LLC raised its position in shares of Tilray Brands by 42.9% during the 1st quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock worth $66,000 after purchasing an additional 30,000 shares during the last quarter. KBC Group NV raised its position in shares of Tilray Brands by 102.6% during the 1st quarter. KBC Group NV now owns 77,657 shares of the company's stock worth $51,000 after purchasing an additional 39,325 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Tilray Brands by 2.3% during the 1st quarter. Swiss National Bank now owns 1,816,638 shares of the company's stock worth $1,194,000 after purchasing an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company's stock.

Wall Street Analyst Weigh In

TLRY has been the subject of several research reports. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group lifted their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $1.94.

Tilray Brands Trading Down 3.4%

Shares of TLRY opened at $1.15 on Friday. The stock has a fifty day moving average of $1.03 and a two-hundred day moving average of $0.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The company has a market capitalization of $1.27 billion, a PE ratio of -0.50 and a beta of 2.03. Tilray Brands, Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. As a group, analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Activity at Tilray Brands

In other news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the acquisition, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by insiders.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.

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