CIBC Asset Management Inc grew its stake in Tilray Inc (NASDAQ:TLRY - Get Rating) by 22.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 515,087 shares of the company's stock after purchasing an additional 93,961 shares during the period. CIBC Asset Management Inc owned about 0.08% of Tilray worth $1,423,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in shares of Tilray by 188.8% during the 2nd quarter. Macquarie Group Ltd. now owns 8,540 shares of the company's stock valued at $27,000 after buying an additional 5,583 shares in the last quarter. Activest Wealth Management lifted its position in shares of Tilray by 5,982.4% during the 3rd quarter. Activest Wealth Management now owns 9,306 shares of the company's stock valued at $26,000 after buying an additional 9,153 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in shares of Tilray during the 3rd quarter valued at approximately $28,000. Cetera Advisor Networks LLC purchased a new position in shares of Tilray during the 1st quarter valued at approximately $82,000. Finally, Krilogy Financial LLC purchased a new position in shares of Tilray during the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 11.59% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on TLRY. Alliance Global Partners decreased their target price on Tilray from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, January 9th. Barclays decreased their price objective on Tilray from $4.50 to $2.00 and set an "underweight" rating on the stock in a report on Friday, September 30th. Cantor Fitzgerald raised their price objective on Tilray from $4.15 to $4.50 and gave the company a "neutral" rating in a report on Monday, October 10th. Sanford C. Bernstein began coverage on Tilray in a report on Tuesday, November 1st. They issued a "market perform" rating and a $3.90 price objective on the stock. Finally, Haywood Securities decreased their price objective on Tilray to $3.50 in a report on Thursday, October 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.08.
Tilray Stock Down 1.0 %
Shares of NASDAQ:TLRY opened at $3.07 on Friday. The business has a 50-day moving average price of $3.28 and a 200 day moving average price of $3.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.91 and a quick ratio of 1.35. Tilray Inc has a 12-month low of $2.52 and a 12-month high of $9.08.
Tilray (NASDAQ:TLRY - Get Rating) last issued its quarterly earnings data on Monday, January 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $144.10 million for the quarter, compared to analyst estimates of $157.21 million. Tilray had a negative return on equity of 5.10% and a negative net margin of 89.96%. Tilray's revenue for the quarter was down 7.1% on a year-over-year basis. As a group, analysts expect that Tilray Inc will post -0.34 EPS for the current year.
Insider Buying and Selling
In related news, Director Brendan Kennedy sold 350,000 shares of the firm's stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $3.78, for a total transaction of $1,323,000.00. Following the completion of the sale, the director now directly owns 6,224,196 shares of the company's stock, valued at approximately $23,527,460.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.54% of the company's stock.
Tilray Company Profile
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Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Nanaimo, Canada.
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