Invesco Ltd. Sells 189,516 Shares of 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. decreased its position in shares of SNDL Inc. (NASDAQ:SNDL - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent Form 13F filing 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 period. Invesco Ltd. owned 0.23% of SNDL worth $870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNDL. Tower Research Capital LLC TRC bought a new stake in SNDL during the fourth quarter worth approximately $77,000. BNP Paribas Financial Markets bought a new position in shares of SNDL in the fourth quarter valued at $7,357,000. Bank of America Corp DE increased its holdings in shares of SNDL by 36.0% in the fourth quarter. Bank of America Corp DE now owns 264,106 shares of the company's stock valued at $473,000 after buying an additional 69,919 shares in the last quarter. Graham Capital Management L.P. increased its holdings in shares of SNDL by 11.6% in the fourth quarter. Graham Capital Management L.P. now owns 138,827 shares of the company's stock valued at $248,000 after buying an additional 14,461 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of SNDL by 41.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,095,205 shares of the company's stock valued at $3,750,000 after buying an additional 612,495 shares in the last quarter.

SNDL Stock Performance

SNDL stock traded up $0.04 during mid-day trading on Friday, reaching $2.48. 2,687,846 shares of the stock traded hands, compared to its average volume of 5,065,271. SNDL Inc. has a 52 week low of $1.15 and a 52 week high of $2.74. The company has a quick ratio of 3.36, a current ratio of 5.03 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $651.69 million, a PE ratio of -9.18 and a beta of 3.92. The business has a 50-day moving average of $1.83 and a two-hundred day moving average of $1.55.

SNDL (NASDAQ:SNDL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. SNDL had a negative net margin of 10.38% and a negative return on equity of 8.58%. The company had revenue of $179.78 million during the quarter, compared to analyst estimates of $231.50 million. As a group, equities analysts predict that SNDL Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners assumed coverage on SNDL in a report on Wednesday. They issued a "buy" rating and a $5.00 price target on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, SNDL has an average rating of "Buy" and a consensus price target 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.