SG Americas Securities LLC Grows Stock Position in Tilray Inc (NASDAQ:TLRY)

SG Americas Securities LLC grew its position in shares of Tilray Inc (NASDAQ:TLRYGet Rating) by 150.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,011 shares of the company’s stock after buying an additional 55,299 shares during the period. SG Americas Securities LLC’s holdings in Tilray were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TLRY. Confluence Wealth Services Inc. purchased a new stake in Tilray during the fourth quarter valued at about $30,000. Dupont Capital Management Corp bought a new stake in shares of Tilray in the fourth quarter valued at approximately $34,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Tilray by 320.0% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 5,250 shares of the company’s stock valued at $41,000 after buying an additional 4,000 shares in the last quarter. Samalin Investment Counsel LLC boosted its holdings in Tilray by 73.5% in the 4th quarter. Samalin Investment Counsel LLC now owns 10,153 shares of the company’s stock worth $71,000 after buying an additional 4,300 shares during the period. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Tilray in the 4th quarter valued at approximately $72,000. Institutional investors own 13.84% of the company’s stock.

Analysts Set New Price Targets

TLRY has been the subject of a number of analyst reports. Roth Capital cut their price target on Tilray from $8.00 to $4.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Alliance Global Partners reduced their target price on Tilray from $8.00 to $5.50 and set a “neutral” rating for the company in a report on Monday, May 2nd. Piper Sandler lowered their price target on shares of Tilray from $6.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, June 15th. Benchmark cut shares of Tilray from a “hold” rating to a “sell” rating and set a $3.00 price objective for the company. in a research note on Friday, July 29th. Finally, Cantor Fitzgerald reiterated a “maintains” rating on shares of Tilray in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.27.

Tilray Trading Up 14.0 %

NASDAQ TLRY opened at $3.90 on Wednesday. The stock’s 50-day simple moving average is $3.60 and its two-hundred day simple moving average is $5.06. Tilray Inc has a twelve month low of $3.00 and a twelve month high of $15.25. The company has a quick ratio of 1.99, a current ratio of 2.87 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -4.38 and a beta of 2.57.

Tilray (NASDAQ:TLRYGet Rating) last released its earnings results on Thursday, July 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.82). Tilray had a negative return on equity of 4.14% and a negative net margin of 71.52%. The firm had revenue of $153.30 million during the quarter, compared to the consensus estimate of $151.53 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts forecast that Tilray Inc will post -0.18 EPS for the current fiscal year.

Insider Activity

In related news, Director Brendan Kennedy sold 350,000 shares of Tilray stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $3.09, for a total value of $1,081,500.00. Following the transaction, the director now owns 7,624,196 shares in the company, valued at approximately $23,558,765.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.96% of the stock is owned by corporate insiders.

About Tilray

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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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Institutional Ownership by Quarter for Tilray (NASDAQ:TLRY)

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