599,179 Shares in Tilray Inc (NASDAQ:TLRY) Bought by Merlin Capital LLC

Merlin Capital LLC bought a new position in Tilray Inc (NASDAQ:TLRY) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 599,179 shares of the company’s stock, valued at approximately $1,869,000. Tilray comprises 3.2% of Merlin Capital LLC’s portfolio, making the stock its 5th largest position. Merlin Capital LLC owned approximately 0.09% of Tilray as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. acquired a new stake in Tilray during the 1st quarter worth about $25,000. Kennedy Investment Group acquired a new stake in Tilray during the 1st quarter worth about $25,000. Macquarie Group Ltd. grew its position in Tilray by 188.8% during the 2nd quarter. Macquarie Group Ltd. now owns 8,540 shares of the company’s stock worth $27,000 after purchasing an additional 5,583 shares during the period. Archer Investment Corp grew its position in Tilray by 232.3% during the 1st quarter. Archer Investment Corp now owns 11,235 shares of the company’s stock worth $28,000 after purchasing an additional 7,854 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in Tilray during the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 8.86% of the company’s stock.

Tilray Trading Up 5.2 %

TLRY stock opened at $1.82 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08. Tilray Inc has a 12-month low of $1.50 and a 12-month high of $5.12. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -0.81 and a beta of 2.40. The business’s 50-day moving average is $2.19 and its 200 day moving average is $2.14.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Wednesday, October 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Tilray had a negative return on equity of 4.02% and a negative net margin of 216.38%. The firm had revenue of $177.00 million during the quarter, compared to analyst estimates of $174.30 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts anticipate that Tilray Inc will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on TLRY. Piper Sandler cut their price target on Tilray from $3.00 to $2.00 in a research report on Thursday, July 27th. Roth Mkm restated a “neutral” rating and set a $2.50 target price on shares of Tilray in a research report on Friday, September 1st. ATB Capital raised their target price on Tilray from $2.50 to $3.00 in a research report on Thursday, July 27th. CIBC dropped their target price on Tilray from $2.75 to $2.25 in a research report on Thursday, July 27th. Finally, Alliance Global Partners raised their target price on Tilray from $2.00 to $2.25 in a research report on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Tilray presently has a consensus rating of “Hold” and a consensus price target of $2.83.

Tilray Profile

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.