Cibc World Market Inc. reduced its stake in shares of Cronos Group Inc. (NASDAQ:CRON – Get Rating) by 90.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 25,262 shares of the company’s stock after selling 233,600 shares during the quarter. Cibc World Market Inc.’s holdings in Cronos Group were worth $71,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Ferguson Shapiro LLC acquired a new position in shares of Cronos Group during the 2nd quarter worth approximately $30,000. SG Americas Securities LLC acquired a new position in shares of Cronos Group during the 1st quarter worth approximately $51,000. Founders Financial Securities LLC acquired a new position in shares of Cronos Group during the 2nd quarter worth approximately $55,000. Sageworth Trust Co acquired a new position in shares of Cronos Group during the 1st quarter worth approximately $58,000. Finally, MQS Management LLC acquired a new position in shares of Cronos Group during the 1st quarter worth approximately $61,000. 12.08% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Cronos Group
In related news, Director Jason Marc Adler acquired 81,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were acquired at an average price of $2.94 per share, with a total value of $238,140.00. Following the completion of the transaction, the director now owns 372,296 shares of the company’s stock, valued at $1,094,550.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.95% of the company’s stock.
Cronos Group Stock Up 1.0 %
Wall Street Analysts Forecast Growth
CRON has been the topic of several recent research reports. Barclays lowered their target price on Cronos Group from $5.00 to $3.50 and set an “equal weight” rating on the stock in a report on Friday, September 30th. Sanford C. Bernstein assumed coverage on Cronos Group in a report on Tuesday, November 1st. They issued a “market perform” rating and a $3.00 price objective on the stock. Raymond James reiterated a “buy” rating and issued a $7.00 price objective on shares of Cronos Group in a report on Friday, July 29th. Canaccord Genuity Group upgraded Cronos Group from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Finally, Canaccord Genuity Group decreased their price objective on Cronos Group from C$5.00 to C$4.75 in a report on Tuesday, November 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.09.
About Cronos Group
Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.
- Get a free copy of the StockNews.com research report on Cronos Group (CRON)
- Three CBD Stocks to Dominate a Budding Industry
- Is the 60/40 Portfolio Mix Still in Vogue?
- Institutional Support for Analog Devices Remains High
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Microsoft Shares: Is it Time to Back Up the Truck?
Receive News & Ratings for Cronos Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cronos Group and related companies with MarketBeat.com's FREE daily email newsletter.