Virtu Financial LLC Invests $255,000 in Canopy Growth Corporation (NASDAQ:CGC)

Key Points

• Virtu Financial LLC has invested approximately $255,000 in Canopy Growth Corporation (NASDAQ:CGC), acquiring 280,143 shares and holding about 0.15% of the company as of the latest quarter.
• Canopy Growth's recent earnings report showed a loss of ($0.14) earnings per share, slightly beating analysts' expectation of ($0.15), but with revenue of $52.98 million falling short of the estimated $64.98 million.
• The company's shares have experienced a decline of 12.8%, with a current trading price of $1.30, down from a 52-week high of $7.12.

Virtu Financial LLC purchased a new stake in shares of Canopy Growth Corporation (NASDAQ:CGC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 280,143 shares of the company's stock, valued at approximately $255,000. Virtu Financial LLC owned approximately 0.15% of Canopy Growth at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CGC. Dimensional Fund Advisors LP acquired a new position in Canopy Growth during the fourth quarter valued at $41,000. TD Asset Management Inc raised its stake in shares of Canopy Growth by 47.3% during the 1st quarter. TD Asset Management Inc now owns 112,721 shares of the company's stock valued at $104,000 after buying an additional 36,211 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Canopy Growth by 56.5% in the 1st quarter. Mackenzie Financial Corp now owns 50,413 shares of the company's stock valued at $47,000 after buying an additional 18,202 shares during the period. Tidal Investments LLC boosted its stake in shares of Canopy Growth by 12.5% in the fourth quarter. Tidal Investments LLC now owns 2,263,873 shares of the company's stock worth $6,203,000 after buying an additional 251,659 shares during the last quarter. Finally, Centiva Capital LP boosted its stake in shares of Canopy Growth by 133.1% in the fourth quarter. Centiva Capital LP now owns 124,155 shares of the company's stock worth $340,000 after buying an additional 70,884 shares during the last quarter. 3.33% of the stock is owned by institutional investors and hedge funds.

Canopy Growth Trading Down 12.8%

Shares of CGC stock opened at $1.30 on Friday. The stock's fifty day moving average is $1.24 and its two-hundred day moving average is $1.35. The firm has a market capitalization of $311.81 million, a P/E ratio of -0.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.10 and a current ratio of 3.07. Canopy Growth Corporation has a fifty-two week low of $0.77 and a fifty-two week high of $7.12.

Canopy Growth (NASDAQ:CGC - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. Canopy Growth had a negative return on equity of 89.93% and a negative net margin of 155.76%. The company had revenue of $52.98 million for the quarter, compared to analyst estimates of $64.98 million. Research analysts expect that Canopy Growth Corporation will post -2.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CGC has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an "underweight" rating on shares of Canopy Growth in a report on Friday, May 30th. Zacks Research raised Canopy Growth to a "hold" rating in a research note on Tuesday.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.

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