Point72 Asset Management L.P. Invests $1.35 Million in Tilray Inc (NASDAQ:TLRY)

Point72 Asset Management L.P. acquired a new position in shares of Tilray Inc (NASDAQ:TLRY) during the 3rd quarter, Holdings Channel reports. The fund acquired 765,922 shares of the company’s stock, valued at approximately $1,348,000.

Several other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after acquiring an additional 7,339 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after acquiring an additional 7,406 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Tilray by 4.4% during the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after acquiring an additional 9,171 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after acquiring an additional 11,632 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray during the 3rd quarter worth approximately $26,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th.

Tilray Stock Performance

NASDAQ TLRY opened at $1.28 on Wednesday. The company has a market cap of $1.16 billion, a P/E ratio of -4.74 and a beta of 2.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The business’s 50 day moving average price is $1.51 and its 200-day moving average price is $1.69. Tilray Inc has a fifty-two week low of $1.25 and a fifty-two week high of $2.97.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. Sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.87% of the stock is currently owned by corporate insiders.

About Tilray

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 Canada.