State of New Jersey Common Pension Fund D Acquires 112,249 Shares of Tilray Inc (NASDAQ:TLRY)

State of New Jersey Common Pension Fund D lifted its holdings in Tilray Inc (NASDAQ:TLRYGet Rating) by 23.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 593,544 shares of the company’s stock after buying an additional 112,249 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Tilray were worth $1,632,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Coastal Investment Advisors Inc. bought a new stake in Tilray in the 3rd quarter valued at about $28,000. Prospera Financial Services Inc bought a new stake in Tilray in the 3rd quarter valued at about $40,000. Truist Financial Corp increased its position in Tilray by 30.2% in the 3rd quarter. Truist Financial Corp now owns 22,679 shares of the company’s stock valued at $62,000 after buying an additional 5,265 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Tilray in the 3rd quarter valued at about $70,000. Finally, Ferguson Shapiro LLC bought a new stake in Tilray in the 3rd quarter valued at about $41,000. 11.59% of the stock is owned by institutional investors.

Tilray Price Performance

Shares of NASDAQ TLRY opened at $3.05 on Friday. Tilray Inc has a twelve month low of $2.52 and a twelve month high of $9.08. The stock’s 50 day moving average price is $3.36 and its 200-day moving average price is $3.45. The company has a market capitalization of $1.88 billion, a PE ratio of -2.90 and a beta of 2.67. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.09.

Tilray (NASDAQ:TLRYGet Rating) last announced its 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 return on equity of 5.10% and a negative net margin of 89.96%. The business had revenue of $144.10 million during the quarter, compared to analysts’ expectations of $157.21 million. The business’s revenue was down 7.1% on a year-over-year basis. On average, equities analysts anticipate that Tilray Inc will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Alliance Global Partners decreased their target price on Tilray from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Sanford C. Bernstein initiated coverage on Tilray in a research note on Tuesday, November 1st. They set a “market perform” rating and a $3.90 price target for the company. Haywood Securities cut their price target on Tilray to $3.50 in a research note on Thursday, October 13th. Cantor Fitzgerald lifted their price target on Tilray from $4.15 to $4.50 and gave the company a “neutral” rating in a research note on Monday, October 10th. Finally, Barclays cut their price target on Tilray from $4.50 to $2.00 and set an “underweight” rating for the company in a research note on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.08.

Insider Transactions at Tilray

In related news, Director Brendan Kennedy sold 350,000 shares of Tilray stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $3.78, for a total value of $1,323,000.00. Following the sale, the director now owns 6,224,196 shares of the company’s stock, valued at approximately $23,527,460.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.54% of the company’s stock.

Tilray Company Profile

(Get Rating)

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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