Invesco Ltd. Cuts Stock Holdings in Tilray Brands, Inc. $TLRY

Key Points

• Invesco Ltd. reduced its stake in Tilray Brands by 18%, owning approximately 1,673,338 shares valued at $1.1 million after selling 366,205 shares in the first quarter.
• Several other hedge funds have adjusted their positions in Tilray, with Dimensional Fund Advisors LP increasing its holdings by 54.8%, now owning about 2.17 million shares valued at $2.89 million.
• Tilray Brands reported a $0.02 EPS for the last quarter, surpassing analysts' expectations, despite revenues of $224.54 million falling short of estimates of $250.41 million.

Invesco Ltd. trimmed its holdings in shares of Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 18.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,673,338 shares of the company's stock after selling 366,205 shares during the period. Invesco Ltd. owned approximately 0.17% of Tilray Brands worth $1,100,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TLRY. Raymond James Financial Inc. acquired a new stake in shares of Tilray Brands in the fourth quarter valued at about $255,000. Dimensional Fund Advisors LP lifted its holdings in shares of Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after acquiring an additional 769,569 shares during the period. Tower Research Capital LLC TRC grew its position in Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after acquiring an additional 11,325 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Tilray Brands by 9.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 786,874 shares of the company's stock worth $1,042,000 after buying an additional 71,202 shares in the last quarter. Finally, Lido Advisors LLC bought a new stake in Tilray Brands in the fourth quarter valued at $28,000. 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 a number of analyst reports. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group increased their target price on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Trading Down 5.2%

NASDAQ TLRY traded down $0.07 during mid-day trading on Wednesday, reaching $1.19. 49,647,153 shares of the stock were exchanged, compared to its average volume of 91,679,952. The business's fifty day simple moving average is $0.82 and its 200 day simple moving average is $0.64. The stock has a market capitalization of $1.30 billion, a PE ratio of -0.51 and a beta of 2.03. Tilray Brands, Inc. has a 1-year low of $0.35 and a 1-year high of $1.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data 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. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The firm had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. On average, research analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Irwin D. Simon purchased 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the purchase, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. This represents a 4.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

Tilray Brands Profile

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.