Janney Montgomery Scott LLC Buys 9,000 Shares of Cronos Group Inc. (NASDAQ:CRON)

Janney Montgomery Scott LLC grew its stake in shares of Cronos Group Inc. (NASDAQ:CRONGet Rating) by 4.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 231,235 shares of the company’s stock after acquiring an additional 9,000 shares during the period. Janney Montgomery Scott LLC’s holdings in Cronos Group were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRON. Cibc World Market Inc. increased its position in shares of Cronos Group by 1,017.3% during the first quarter. Cibc World Market Inc. now owns 258,862 shares of the company’s stock valued at $1,007,000 after buying an additional 235,694 shares during the period. Vontobel Holding Ltd. increased its position in shares of Cronos Group by 5.9% during the first quarter. Vontobel Holding Ltd. now owns 187,318 shares of the company’s stock valued at $726,000 after buying an additional 10,423 shares during the period. Vanguard Group Inc. increased its position in shares of Cronos Group by 4.6% during the first quarter. Vanguard Group Inc. now owns 6,281,412 shares of the company’s stock valued at $24,434,000 after buying an additional 273,766 shares during the period. Mackenzie Financial Corp increased its position in shares of Cronos Group by 49.6% during the first quarter. Mackenzie Financial Corp now owns 92,399 shares of the company’s stock valued at $359,000 after buying an additional 30,651 shares during the period. Finally, Invesco Ltd. increased its position in shares of Cronos Group by 131.5% during the first quarter. Invesco Ltd. now owns 65,051 shares of the company’s stock valued at $253,000 after buying an additional 36,952 shares during the period. 11.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRON. Canaccord Genuity Group decreased their price target on Cronos Group from C$5.00 to C$4.75 in a research report on Tuesday, November 8th. Barclays cut their price objective on Cronos Group from $5.00 to $3.50 and set an “equal weight” rating for the company in a report on Friday, September 30th. Finally, Sanford C. Bernstein began coverage on Cronos Group in a report on Tuesday, November 1st. They set a “market perform” rating and a $3.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Cronos Group currently has an average rating of “Moderate Buy” and an average price target of $4.09.

Insiders Place Their Bets

In other news, Director Jason Marc Adler bought 81,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was acquired at an average price of $2.94 per share, with a total value of $238,140.00. Following the completion of the purchase, the director now directly owns 372,296 shares in the company, valued at $1,094,550.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 447,500 shares of company stock valued at $1,302,605 over the last quarter. 5.95% of the stock is owned by corporate insiders.

Cronos Group Trading Up 3.3 %

Shares of NASDAQ CRON opened at $2.50 on Friday. The firm has a market capitalization of $951.19 million, a price-to-earnings ratio of -4.17 and a beta of 1.54. The business has a 50-day moving average of $2.79 and a 200-day moving average of $2.95. Cronos Group Inc. has a 12 month low of $2.39 and a 12 month high of $4.31.

Cronos Group (NASDAQ:CRONGet Rating) last issued its earnings results on Monday, November 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $20.92 million during the quarter, compared to analysts’ expectations of $23.30 million. Cronos Group had a negative return on equity of 16.29% and a negative net margin of 235.72%. On average, analysts predict that Cronos Group Inc. will post -0.29 earnings per share for the current year.

Cronos Group Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Cronos Group (NASDAQ:CRON)

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