Tilray Inc (NASDAQ:TLRY) Stock Position Raised by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Tilray Inc (NASDAQ:TLRYGet Rating) by 115.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,635 shares of the company’s stock after buying an additional 13,723 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Tilray were worth $199,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Confluence Wealth Services Inc. bought a new stake in shares of Tilray during the 4th quarter valued at about $30,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Tilray by 320.0% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 5,250 shares of the company’s stock valued at $41,000 after buying an additional 4,000 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Tilray during the 1st quarter valued at about $54,000. Toronto Dominion Bank grew its position in shares of Tilray by 57.1% during the 1st quarter. Toronto Dominion Bank now owns 7,692 shares of the company’s stock valued at $60,000 after buying an additional 2,795 shares during the last quarter. Finally, Samalin Investment Counsel LLC grew its position in shares of Tilray by 73.5% during the 4th quarter. Samalin Investment Counsel LLC now owns 10,153 shares of the company’s stock valued at $71,000 after buying an additional 4,300 shares during the last quarter. Institutional investors own 12.10% of the company’s stock.

Tilray Stock Down 6.1 %

TLRY stock opened at $3.36 on Friday. Tilray Inc has a 12 month low of $3.00 and a 12 month high of $14.16. The firm has a market cap of $1.80 billion, a PE ratio of -3.78 and a beta of 2.57. The firm has a 50 day simple moving average of $3.65 and a 200 day simple moving average of $4.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.87 and a quick ratio of 1.99.

Tilray (NASDAQ:TLRYGet Rating) last released its earnings results on Thursday, July 28th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.27). The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $151.53 million. Tilray had a negative net margin of 71.52% and a negative return on equity of 4.14%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share. Equities research analysts forecast that Tilray Inc will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on TLRY. Cowen decreased their target price on shares of Tilray from $23.00 to $9.00 in a research report on Friday, July 29th. Benchmark cut shares of Tilray from a “hold” rating to a “sell” rating and set a $3.00 target price for the company. in a research report on Friday, July 29th. Cantor Fitzgerald decreased their target price on shares of Tilray from $5.75 to $4.15 and set a “neutral” rating for the company in a research report on Tuesday, August 2nd. Canaccord Genuity Group decreased their target price on shares of Tilray from $9.00 to $7.00 in a research report on Wednesday, June 15th. Finally, Piper Sandler decreased their target price on shares of Tilray from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, June 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.15.

Insider Activity at Tilray

In related news, Director Brendan Kennedy sold 350,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $3.09, for a total value of $1,081,500.00. Following the completion of the sale, the director now owns 7,624,196 shares in the company, valued at approximately $23,558,765.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.96% of the stock is owned by insiders.

Tilray Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Tilray (NASDAQ:TLRY)

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