Vontobel Holding Ltd. increased its stake in shares of Tilray Inc (NASDAQ:TLRY - Get Rating) by 35.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,748 shares of the company's stock after purchasing an additional 65,002 shares during the quarter. Vontobel Holding Ltd.'s holdings in Tilray were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TLRY. Activest Wealth Management grew its holdings in Tilray by 5,982.4% in 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 during the period. Macquarie Group Ltd. grew its holdings in Tilray by 188.8% in 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 during the period. Coastal Investment Advisors Inc. purchased a new stake in Tilray in the 3rd quarter valued at about $28,000. Krilogy Financial LLC purchased a new stake in Tilray in the 3rd quarter valued at about $29,000. Finally, Merit Financial Group LLC purchased a new stake in Tilray in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 11.59% of the company's stock.
Tilray Stock Down 4.0 %
Shares of NASDAQ TLRY opened at $3.08 on Tuesday. Tilray Inc has a twelve month low of $2.52 and a twelve month high of $9.08. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.09. The business has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $3.44.
Tilray (NASDAQ:TLRY - Get Rating) last issued its quarterly earnings results on Monday, January 9th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). Tilray had a negative net margin of 89.96% and a negative return on equity of 5.10%. The firm had revenue of $144.10 million during the quarter, compared to the consensus estimate of $157.21 million. The company's revenue for the quarter was down 7.1% on a year-over-year basis. 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 company's stock in a transaction on 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 transaction, the director now directly owns 6,224,196 shares in the company, valued at approximately $23,527,460.88. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.54% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms have commented on TLRY. 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 target for the company. Haywood Securities reduced their price objective on Tilray to $3.50 in a research note on Thursday, October 13th. Cantor Fitzgerald lifted their price objective on Tilray from $4.15 to $4.50 and gave the company a "neutral" rating in a research note on Monday, October 10th. Finally, Alliance Global Partners reduced their price target on Tilray from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.08.
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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