Tilray Brands, Inc. $TLRY Shares Sold by Freestone Capital Holdings LLC

Key Points

• Freestone Capital trimmed its stake in Tilray by 90.5% in Q4, selling 148,214 shares and leaving 15,578 shares valued at $141,000.
• Tilray reported Q1 EPS of ($0.24), missing estimates by $0.10 on revenue of $206.73 million, and continues to show a negative net margin (‑156.51%) and negative return on equity.
• Analysts' consensus is a Hold with an average price target of $11.50 (three Buys, four Holds, one Sell), despite recent mixed broker moves such as Roth MKM upgrading to Buy with a $10 target and ATB Cormark cutting its target to $9.00.

Freestone Capital Holdings LLC trimmed its position in Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 90.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,578 shares of the company's stock after selling 148,214 shares during the quarter. Freestone Capital Holdings LLC's holdings in Tilray Brands were worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in TLRY. AQR Capital Management LLC increased its holdings in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock valued at $399,000 after acquiring an additional 575,757 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Tilray Brands in the 2nd quarter valued at approximately $112,000. Cerity Partners LLC increased its holdings in shares of Tilray Brands by 98.5% in the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock valued at $38,000 after acquiring an additional 45,929 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands in the 2nd quarter valued at approximately $939,000. Finally, Bank of America Corp DE increased its holdings in shares of Tilray Brands by 26.5% in the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company's stock valued at $129,000 after acquiring an additional 65,379 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TLRY. ATB Cormark Capital Markets lowered their price target on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a report on Thursday, April 2nd. Roth Mkm upgraded Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price target for the company in a report on Thursday, April 2nd. Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $11.50.

Tilray Brands Price Performance

Shares of TLRY opened at $6.79 on Friday. The company has a market cap of $791.37 million, a P/E ratio of -0.50 and a beta of 2.00. The stock has a fifty day moving average price of $7.08 and a 200 day moving average price of $9.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. Tilray Brands, Inc. has a 12 month low of $3.51 and a 12 month high of $23.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.10). The company had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same quarter in the previous year, the company earned ($0.87) earnings per share. On average, research analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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