National Bank of Canada FI Sells 763,247 Shares of Tilray Brands, Inc. $TLRY

Key Points

• National Bank of Canada FI reduced its stake in Tilray Brands, Inc. by 70.6%, selling 763,247 shares and owning 317,155 shares valued at $207,000 at the end of the first quarter.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, increasing his ownership by 4.37% to approximately 3.94 million shares valued at $2.4 million.
• Despite a 12.7% decline in stock price recently, Tilray Brands reported earnings of $0.02 per share, beating consensus estimates, though revenue fell short at $224.54 million.

National Bank of Canada FI cut its position in shares of Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 70.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,155 shares of the company's stock after selling 763,247 shares during the period. National Bank of Canada FI's holdings in Tilray Brands were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TLRY. Lido Advisors LLC bought a new stake in Tilray Brands in the 4th quarter valued at about $28,000. Cerity Partners LLC acquired a new position in Tilray Brands during the 1st quarter worth approximately $31,000. Capital Management Associates Inc increased its position in Tilray Brands by 100.0% in the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after acquiring an additional 25,380 shares during the period. NewEdge Advisors LLC increased its position in Tilray Brands by 92.1% in the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after acquiring an additional 13,136 shares during the period. Finally, Zacks Investment Management acquired a new position in Tilray Brands in the 4th quarter valued at approximately $41,000. Institutional investors own 9.35% of the company's stock.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon acquired 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $0.61 per share, with a total value of $100,650.00. Following the transaction, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TLRY. Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Trading Down 7.0%

Shares of TLRY traded down $0.08 during mid-day trading on Tuesday, reaching $1.06. The company's stock had a trading volume of 42,325,873 shares, compared to its average volume of 40,745,211. The stock has a market cap of $1.17 billion, a PE ratio of -0.46 and a beta of 1.85. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. Tilray Brands, Inc. has a 52 week low of $0.3507 and a 52 week high of $1.95. The company's fifty day moving average price is $0.61 and its two-hundred day moving average price is $0.61.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $250.41 million. On average, analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Tilray Brands Company 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.