The Manufacturers Life Insurance Company Increases Stake in Tilray Inc (NASDAQ:TLRY)

The Manufacturers Life Insurance Company lifted its stake in shares of Tilray Inc (NASDAQ:TLRY) by 11.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 682,478 shares of the company’s stock after acquiring an additional 70,605 shares during the period. The Manufacturers Life Insurance Company’s holdings in Tilray were worth $1,131,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after acquiring an additional 10,648,403 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Tilray by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tilray by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the period. Bank of Montreal Can lifted its holdings in shares of Tilray by 19.6% during the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after acquiring an additional 355,778 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Tilray by 3.6% during the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after acquiring an additional 51,700 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tilray Trading Up 2.5 %

NASDAQ TLRY opened at $1.63 on Friday. Tilray Inc has a one year low of $1.45 and a one year high of $2.97. The company’s 50 day moving average price is $1.75 and its 200 day moving average price is $1.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.42 and a current ratio of 2.27.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.01%. The firm had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same quarter last year, the firm posted ($0.10) earnings per share. Tilray’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Tilray Inc will post -0.16 earnings per share for the current fiscal year.

Tilray Company 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 Canada.