Invesco Ltd. Has $870,000 Stake in SNDL Inc. $SNDL

Key Points

• Invesco Ltd. reduced its stake in SNDL Inc. by 23.5%, selling 189,516 shares during the first quarter, now holding 617,296 shares valued at approximately $870,000.
• SNDL has shown mixed financial performance, with a reported EPS of $0.01 which exceeded analysts' expectations, but revenues fell short at $179.78 million against the anticipated $231.50 million.
• The stock has an average rating of "Buy" from analysts, with a target price of $4.50, reflecting positive outlook despite recent challenges.

Invesco Ltd. reduced its holdings in SNDL Inc. (NASDAQ:SNDL - Free Report) by 23.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 617,296 shares of the company's stock after selling 189,516 shares during the quarter. Invesco Ltd. owned 0.23% of SNDL worth $870,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SNDL. BNP Paribas Financial Markets bought a new stake in shares of SNDL in the fourth quarter worth about $7,357,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SNDL by 41.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company's stock worth $3,750,000 after buying an additional 612,495 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of SNDL during the fourth quarter worth about $584,000. State of Wyoming grew its holdings in shares of SNDL by 43.9% during the fourth quarter. State of Wyoming now owns 568,184 shares of the company's stock worth $1,017,000 after buying an additional 173,409 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of SNDL by 735.7% during the first quarter. Mackenzie Financial Corp now owns 162,793 shares of the company's stock worth $230,000 after buying an additional 143,312 shares in the last quarter.

SNDL Stock Up 1.3%

NASDAQ SNDL traded up $0.03 during trading hours on Tuesday, hitting $2.42. 2,405,676 shares of the company traded hands, compared to its average volume of 4,380,459. The business's 50-day moving average is $1.87 and its 200-day moving average is $1.56. SNDL Inc. has a twelve month low of $1.15 and a twelve month high of $2.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.36 and a current ratio of 5.03. The stock has a market capitalization of $635.93 million, a price-to-earnings ratio of -8.96 and a beta of 3.92.

SNDL (NASDAQ:SNDL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. SNDL had a negative return on equity of 8.58% and a negative net margin of 10.38%.The firm had revenue of $179.78 million during the quarter, compared to analysts' expectations of $231.50 million. Sell-side analysts anticipate that SNDL Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on SNDL in a report on Wednesday, September 3rd. They set a "buy" rating and a $5.00 price objective for the company. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, SNDL has an average rating of "Buy" and a consensus target price of $4.50.

SNDL 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.