First Mercantile Trust Co. raised its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,100 shares of the company’s stock after buying an additional 600 shares during the period. First Mercantile Trust Co.’s holdings in Tilray were worth $465,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in TLRY. Stevens Capital Management LP bought a new stake in Tilray in the first quarter worth about $2,106,000. Lee Financial Co bought a new stake in Tilray in the first quarter worth about $25,000. Janney Montgomery Scott LLC raised its position in Tilray by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 5,502 shares of the company’s stock worth $360,000 after acquiring an additional 489 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Tilray in the first quarter worth about $26,000. Finally, BNP Paribas Arbitrage SA raised its position in Tilray by 175.1% in the first quarter. BNP Paribas Arbitrage SA now owns 5,405 shares of the company’s stock worth $354,000 after acquiring an additional 12,603 shares in the last quarter. 7.07% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on TLRY shares. Jefferies Financial Group set a $61.00 price target on shares of Tilray and gave the stock a “sell” rating in a research report on Tuesday, March 19th. Piper Jaffray Companies set a $90.00 price target on shares of Tilray and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Seaport Global Securities started coverage on shares of Tilray in a research report on Thursday, February 21st. They issued a “neutral” rating and a $81.10 price target on the stock. Roth Capital upgraded Tilray from a “neutral” rating to a “buy” rating in a report on Wednesday, February 20th. Finally, Alliance Global Partners started coverage on Tilray in a report on Monday. They set a “neutral” rating and a $50.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Tilray has an average rating of “Hold” and a consensus price target of $89.71.
In other Tilray news, insider Brendan Kennedy sold 106,109 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $63.44, for a total transaction of $6,731,554.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Castaneda sold 30,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $70.43, for a total value of $2,112,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,109 shares of company stock worth $12,522,598. Corporate insiders own 3.40% of the company’s stock.
NASDAQ TLRY opened at $48.74 on Thursday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 20.75 and a current ratio of 21.37. The stock has a market cap of $4.50 billion and a price-to-earnings ratio of -59.44. Tilray Inc has a 1 year low of $20.10 and a 1 year high of $300.00.
Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.02). The company had revenue of $23.00 million for the quarter, compared to analyst estimates of $20.50 million. Tilray had a negative return on equity of 58.43% and a negative net margin of 157.05%. The business’s revenue was up 194.9% on a year-over-year basis. On average, sell-side analysts expect that Tilray Inc will post -0.86 earnings per share for the current year.
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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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