Tilray Brands, Inc. $TLRY Stock Position Reduced by Quinn Opportunity Partners LLC

Key Points

• Quinn Opportunity Partners cut its stake in Tilray by 27.1%, selling 520,000 shares and holding 1,398,080 shares (about $2.42 million, or 0.12% of the company) after the third quarter.
• Other institutions showed mixed activity—several managers (CreativeOne, Dudley, Arizona State, Brighton Jones) increased stakes while Oppenheimer initiated a small ~$25,000 position—and hedge funds/institutions collectively own about 9.35% of TLRY.
• Analysts maintain a consensus "Hold" rating with an average price target of $13.33 (1 Buy, 6 Hold, 1 Sell), alongside recent shifts from "strong sell" to "hold" at some shops and isolated downgrades.

Quinn Opportunity Partners LLC lessened its stake in Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,398,080 shares of the company's stock after selling 520,000 shares during the quarter. Quinn Opportunity Partners LLC owned 0.12% of Tilray Brands worth $2,419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC raised its position in shares of Tilray Brands by 12.2% during the third quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company's stock valued at $151,000 after buying an additional 9,452 shares during the last quarter. Dudley Capital Management LLC grew its position in Tilray Brands by 73.3% during the third quarter. Dudley Capital Management LLC now owns 26,000 shares of the company's stock worth $45,000 after buying an additional 11,000 shares in the last quarter. Arizona State Retirement System grew its position in Tilray Brands by 4.3% during the third quarter. Arizona State Retirement System now owns 307,193 shares of the company's stock worth $531,000 after buying an additional 12,675 shares in the last quarter. Brighton Jones LLC increased its stake in Tilray Brands by 28.3% during the third quarter. Brighton Jones LLC now owns 59,510 shares of the company's stock valued at $103,000 after acquiring an additional 13,137 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in Tilray Brands during the third quarter valued at about $25,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TLRY shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Wall Street Zen cut Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Canaccord Genuity Group began coverage on Tilray Brands in a research report on Tuesday, January 27th. They issued a "hold" rating for the company. Finally, ATB Cormark Capital Markets upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.33.

Tilray Brands Stock Down 0.9%

NASDAQ TLRY opened at $6.89 on Friday. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The stock's 50 day moving average is $8.08 and its two-hundred day moving average is $10.79. The company has a market capitalization of $802.75 million, a price-to-earnings ratio of -0.31 and a beta of 1.96. Tilray Brands, Inc. has a 1-year low of $3.51 and a 1-year high of $23.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.12. The company had revenue of $217.51 million for the quarter, compared to analyst estimates of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the prior year, the company posted ($0.03) EPS. Equities analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

About Tilray Brands

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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