Cibc World Market Inc. Sells 34,769 Shares of Tilray Inc (NASDAQ:TLRY)

Cibc World Market Inc. trimmed its holdings in shares of Tilray Inc (NASDAQ:TLRYGet Rating) by 33.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,360 shares of the company’s stock after selling 34,769 shares during the quarter. Cibc World Market Inc.’s holdings in Tilray were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TLRY. Prentice Capital Management LP purchased a new stake in Tilray during the first quarter valued at approximately $5,293,000. Greenwich Wealth Management LLC lifted its position in Tilray by 106.4% in the first quarter. Greenwich Wealth Management LLC now owns 354,645 shares of the company’s stock worth $2,756,000 after buying an additional 182,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tilray by 13.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,151,099 shares of the company’s stock worth $8,944,000 after buying an additional 138,406 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Tilray by 47.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 414,973 shares of the company’s stock valued at $3,224,000 after acquiring an additional 133,843 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Tilray by 139.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 223,885 shares of the company’s stock valued at $1,740,000 after acquiring an additional 130,398 shares during the period. Institutional investors own 12.10% of the company’s stock.

Insider Activity

In related news, Director Brendan Kennedy sold 350,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $2.91, for a total value of $1,018,500.00. Following the completion of the transaction, the director now owns 6,574,196 shares of the company’s stock, valued at $19,130,910.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 1,050,000 shares of company stock worth $3,468,500. Corporate insiders own 2.54% of the company’s stock.

Tilray Price Performance

TLRY opened at $3.78 on Friday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -4.02 and a beta of 2.67. The company has a current ratio of 3.33, a quick ratio of 2.44 and a debt-to-equity ratio of 0.12. Tilray Inc has a 12-month low of $2.65 and a 12-month high of $11.05. The business’s fifty day simple moving average is $3.43 and its 200-day simple moving average is $3.65.

Tilray (NASDAQ:TLRYGet Rating) last released its quarterly earnings data on Friday, October 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $153.20 million during the quarter, compared to analysts’ expectations of $156.85 million. Tilray had a negative return on equity of 4.33% and a negative net margin of 78.33%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. On average, equities research analysts anticipate that Tilray Inc will post -0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cowen cut their price target on shares of Tilray from $23.00 to $9.00 in a report on Friday, July 29th. Cantor Fitzgerald upped their target price on Tilray from $4.15 to $4.50 and gave the company a “neutral” rating in a research note on Monday, October 10th. Haywood Securities decreased their price target on Tilray to $3.50 in a research note on Thursday, October 13th. Benchmark downgraded Tilray from a “hold” rating to a “sell” rating and set a $3.00 price objective on the stock. in a research report on Friday, July 29th. Finally, Sanford C. Bernstein started coverage on Tilray in a research note on Tuesday, November 1st. They issued a “market perform” rating and a $3.90 target price on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.49.

Tilray 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.

Further Reading

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Institutional Ownership by Quarter for Tilray (NASDAQ:TLRY)

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