Marathon Trading Investment Management LLC Buys Shares of 303,500 Canopy Growth Corporation $CGC

Key Points

• Marathon Trading Investment Management LLC acquired a new stake in Canopy Growth Corporation, purchasing 303,500 shares valued at approximately $276,000 during the first quarter.
• Following the latest transactions, institutional investors now hold 3.33% of Canopy Growth's stock, with several firms significantly increasing their positions in the company.
• Canopy Growth's stock is currently priced at $1.49 and has shown a potential volatility with a 1-year low of $0.77 and a high of $7.21.

Marathon Trading Investment Management LLC bought a new position in shares of Canopy Growth Corporation (NASDAQ:CGC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 303,500 shares of the company's stock, valued at approximately $276,000. Marathon Trading Investment Management LLC owned about 0.17% of Canopy Growth at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CGC. Dimensional Fund Advisors LP purchased a new stake in Canopy Growth during the 4th quarter worth $41,000. Two Sigma Securities LLC lifted its position in Canopy Growth by 150.1% in the 4th quarter. Two Sigma Securities LLC now owns 26,517 shares of the company's stock valued at $73,000 after purchasing an additional 15,916 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Canopy Growth by 56.5% in the first quarter. Mackenzie Financial Corp now owns 50,413 shares of the company's stock worth $47,000 after purchasing an additional 18,202 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Canopy Growth during the fourth quarter worth approximately $75,000. Finally, TD Asset Management Inc lifted its holdings in shares of Canopy Growth by 47.3% in the first quarter. TD Asset Management Inc now owns 112,721 shares of the company's stock valued at $104,000 after buying an additional 36,211 shares during the period. 3.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research raised shares of Canopy Growth to a "hold" rating in a research note on Tuesday, August 12th. Piper Sandler reaffirmed an "underweight" rating on shares of Canopy Growth in a report on Friday, May 30th.

Canopy Growth Price Performance

Shares of Canopy Growth stock traded down $0.19 during trading on Friday, hitting $1.30. 25,245,707 shares of the company's stock traded hands, compared to its average volume of 21,096,104. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.07 and a quick ratio of 2.12. The firm's fifty day moving average price is $1.24 and its 200 day moving average price is $1.34. The company has a market cap of $311.81 million, a PE ratio of -0.43 and a beta of 0.67. Canopy Growth Corporation has a twelve month low of $0.77 and a twelve month high of $7.12.

Canopy Growth (NASDAQ:CGC - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $52.98 million for the quarter, compared to analysts' expectations of $64.98 million. Canopy Growth had a negative net margin of 155.76% and a negative return on equity of 89.93%. Analysts forecast that Canopy Growth Corporation will post -2.81 earnings per share for the current year.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.