SG Americas Securities LLC trimmed its position in shares of Tilray Inc (NASDAQ:TLRY – Get Rating) by 3.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 207,567 shares of the company’s stock after selling 7,058 shares during the period. SG Americas Securities LLC’s holdings in Tilray were worth $571,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. increased its holdings in shares of Tilray by 188.8% in the second quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock valued at $27,000 after purchasing an additional 5,583 shares during the last quarter. Activest Wealth Management increased its holdings in shares of Tilray by 5,982.4% in the third quarter. Activest Wealth Management now owns 9,306 shares of the company’s stock valued at $26,000 after purchasing an additional 9,153 shares during the last quarter. Coastal Investment Advisors Inc. acquired a new position in shares of Tilray in the third quarter valued at $28,000. Cetera Advisor Networks LLC acquired a new position in shares of Tilray in the first quarter valued at $82,000. Finally, Krilogy Financial LLC acquired a new position in shares of Tilray in the third quarter valued at $29,000. 11.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on TLRY. Alliance Global Partners decreased their price objective on shares of Tilray from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Monday, January 9th. Barclays reduced their target price on shares of Tilray from $4.50 to $2.00 and set an “underweight” rating for the company in a research report on Friday, September 30th. Haywood Securities reduced their target price on shares of Tilray to $3.50 in a research report on Thursday, October 13th. Cantor Fitzgerald boosted their target price on shares of Tilray from $4.15 to $4.50 and gave the company a “neutral” rating in a research report on Monday, October 10th. Finally, Sanford C. Bernstein assumed coverage on shares of Tilray in a research report on Tuesday, November 1st. They issued a “market perform” rating and a $3.90 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Tilray currently has a consensus rating of “Hold” and a consensus target price of $5.08.
Tilray Trading Up 4.3 %
Tilray (NASDAQ:TLRY – Get Rating) last posted its quarterly earnings data on Monday, January 9th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $144.10 million for the quarter, compared to the consensus estimate of $157.21 million. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. Analysts predict that Tilray Inc will post -0.34 EPS for the current fiscal year.
Insider Transactions at Tilray
In other news, Director Brendan Kennedy sold 350,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 6,224,196 shares of the company’s stock, valued at $23,527,460.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.54% of the company’s stock.
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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