Garde Capital Inc. acquired a new stake in shares of Tilray Inc (NASDAQ:TLRY) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,001 shares of the company’s stock, valued at approximately $114,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TLRY. Think Investments LP increased its stake in shares of Tilray by 384.6% in the 2nd quarter. Think Investments LP now owns 1,095,224 shares of the company’s stock valued at $7,787,000 after purchasing an additional 869,224 shares in the last quarter. ETF Managers Group LLC increased its stake in shares of Tilray by 8.5% in the 1st quarter. ETF Managers Group LLC now owns 3,073,889 shares of the company’s stock valued at $21,148,000 after purchasing an additional 240,559 shares in the last quarter. CIBC World Markets Inc. purchased a new position in shares of Tilray in the 1st quarter valued at about $1,383,000. Princeton Global Asset Management LLC purchased a new position in shares of Tilray in the 2nd quarter valued at about $1,145,000. Finally, California Public Employees Retirement System increased its stake in shares of Tilray by 363.1% in the 2nd quarter. California Public Employees Retirement System now owns 204,700 shares of the company’s stock valued at $1,455,000 after purchasing an additional 160,500 shares in the last quarter. Institutional investors and hedge funds own 10.41% of the company’s stock.
TLRY has been the subject of several recent analyst reports. BidaskClub lowered Tilray from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Oppenheimer restated a “hold” rating on shares of Tilray in a research note on Monday, August 10th. Cantor Fitzgerald lowered their price objective on Tilray from $8.00 to $7.90 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Zacks Investment Research upgraded Tilray from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Thursday, August 13th. Finally, MKM Partners lifted their price objective on Tilray from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.53.
Tilray (NASDAQ:TLRY) last issued its earnings results on Monday, August 10th. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.38). The company had revenue of $50.41 million for the quarter, compared to analyst estimates of $54.99 million. Tilray had a negative return on equity of 77.77% and a negative net margin of 259.60%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. Research analysts forecast that Tilray Inc will post -0.9 EPS for the current year.
In other news, Director Maryscott Greenwood sold 5,000 shares of Tilray stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $6.44, for a total transaction of $32,200.00. Following the sale, the director now owns 21,391 shares of the company’s stock, valued at approximately $137,758.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brendan Kennedy sold 116,666 shares of Tilray stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $7.42, for a total transaction of $865,661.72. Following the sale, the chief executive officer now directly owns 4,193,556 shares in the company, valued at approximately $31,116,185.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 867,942 shares of company stock worth $6,700,585. Insiders own 16.75% 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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