SNDL Inc. $SNDL Stock Acquired by State of Wyoming

Key Points

• Wyoming significantly increased its SNDL stake by 739.3% in the third quarter, acquiring 1.29 million additional shares for a total holding of 1.46 million shares valued at approximately $1.89 million.
• Other institutional investors, including Cannell Capital, Ewing Morris, Bank of America, and Man Group, also initiated or expanded positions in SNDL.
• SNDL shares were trading down 4.6% at $1.24, while the company reported a quarterly EPS loss of $0.15—well below estimates—despite revenue of $167.18 million. Analysts’ consensus rating is “Reduce.”

State of Wyoming raised its holdings in SNDL Inc. (NASDAQ:SNDL - Free Report) by 739.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,461,165 shares of the company's stock after purchasing an additional 1,287,074 shares during the quarter. State of Wyoming owned 0.57% of SNDL worth $1,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Connective Capital Management LLC purchased a new stake in SNDL during the second quarter worth about $129,000. Ewing Morris & Co. Investment Partners Ltd. boosted its stake in SNDL by 13.8% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,481,222 shares of the company's stock valued at $1,994,000 after acquiring an additional 180,000 shares during the last quarter. Cannell Capital LLC bought a new position in shares of SNDL during the 2nd quarter valued at approximately $11,663,164. Bank of America Corp DE bought a new position in shares of SNDL during the 2nd quarter valued at approximately $217,000. Finally, Man Group plc purchased a new stake in shares of SNDL during the 2nd quarter worth approximately $1,228,000.

Wall Street Analyst Weigh In

SNDL has been the topic of a number of research reports. Wall Street Zen cut shares of SNDL from a "sell" rating to a "strong sell" rating in a report on Saturday. Weiss Ratings raised SNDL from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SNDL has a consensus rating of "Reduce".

SNDL Trading Down 4.6%

Shares of SNDL opened at $1.24 on Friday. SNDL Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $2.34. The business has a 50-day moving average of $1.32 and a 200 day moving average of $1.40. The firm has a market cap of $319.17 million, a P/E ratio of -7.29 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.11 and a current ratio of 3.92.

SNDL (NASDAQ:SNDL - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.14). The business had revenue of $167.18 million for the quarter, compared to analysts' expectations of $164.18 million. SNDL had a negative net margin of 6.39% and a negative return on equity of 1.68%. As a group, research analysts forecast that SNDL Inc. will post -0.20 EPS for the current year.

About SNDL

SNDL Inc is a Canada-based cannabis and liquor company headquartered in Calgary, Alberta. Formerly known as Sundial Growers Inc, the company began as a licensed cannabis producer and has expanded into cannabis cultivation, processing, branded product sales and retail operations.

SNDL offers cannabis products through brands that have included Sundial, Top Leaf, Palmetto and Value Buds. Its cannabis business serves the Canadian adult-use and medical markets through provincial distribution systems and company-operated or affiliated retail locations.

Want to see what other hedge funds are holding SNDL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SNDL Inc. (NASDAQ:SNDL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.