Pillsbury Lake Capital LLC Invests $2.25 Million in Cronos Group Inc. $CRON

Key Points

• Pillsbury Lake Capital acquired 810,163 Cronos Group shares worth approximately $2.25 million, representing a 0.22% stake. Institutional investors and hedge funds collectively own 8.71% of the company.
• Analyst sentiment is moderately positive: three analysts rate Cronos Group a Buy and two rate it Hold, with an average price target of $2.30.
• Cronos Group reported quarterly EPS of $0.09, beating the $0.01 consensus estimate, while revenue of $53.01 million exceeded expectations of $44.20 million. Shares recently traded at $3.38, near the company’s 52-week high of $3.61.

Pillsbury Lake Capital LLC acquired a new stake in Cronos Group Inc. (NASDAQ:CRON - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 810,163 shares of the company's stock, valued at approximately $2,252,253. Pillsbury Lake Capital LLC owned 0.22% of Cronos Group as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft lifted its holdings in shares of Cronos Group by 2.0% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 204,741 shares of the company's stock worth $512,000 after acquiring an additional 3,985 shares during the period. Virtu Financial LLC grew its position in Cronos Group by 10.4% during the fourth quarter. Virtu Financial LLC now owns 52,852 shares of the company's stock valued at $139,000 after buying an additional 4,990 shares during the period. Pictet Asset Management Holding SA grew its position in Cronos Group by 19.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 32,631 shares of the company's stock worth $86,000 after acquiring an additional 5,349 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Cronos Group by 12.5% during the 4th quarter. Headlands Technologies LLC now owns 63,097 shares of the company's stock worth $166,000 after acquiring an additional 6,998 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in Cronos Group in the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 8.71% of the company's stock.

Analyst Ratings Changes

CRON has been the topic of a number of analyst reports. TD Securities reissued a "buy" rating on shares of Cronos Group in a research report on Tuesday, May 12th. Weiss Ratings raised Cronos Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, Wall Street Zen cut shares of Cronos Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $2.30.

Cronos Group Price Performance

Shares of CRON stock traded down $0.01 during midday trading on Friday, hitting $3.38. The company had a trading volume of 1,228,268 shares, compared to its average volume of 1,354,642. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 16.90 and a beta of 0.90. Cronos Group Inc. has a 52-week low of $2.28 and a 52-week high of $3.61. The company's 50 day simple moving average is $2.93 and its 200 day simple moving average is $2.74.

Cronos Group (NASDAQ:CRON - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.08. The company had revenue of $53.01 million during the quarter, compared to analyst estimates of $44.20 million. Cronos Group had a return on equity of 4.85% and a net margin of 39.08%. Analysts anticipate that Cronos Group Inc. will post 0.11 EPS for the current year.

Cronos Group Company Profile

Cronos Group Inc is a Canadian cannabinoid company dedicated to the cultivation, production and distribution of cannabis and cannabidiol (CBD) products for both medical and adult-use markets. Headquartered in Toronto, Ontario, the company manages operations that span the full cannabis value chain, including breeding, greenhouse cultivation, extraction, product formulation and packaging. Cronos Group's business model emphasizes innovation in product development and scalability in manufacturing to meet evolving regulatory and consumer demands.

The company's branded portfolio includes Peace Naturals, which focuses on pharmaceutical-grade medical cannabis; Spinach, a line of adult-use cannabis oils and tinctures; and Cove, a range of wellness-oriented CBD offerings.