Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Tilray Inc (NASDAQ:TLRY)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,487,500 shares of the company’s stock after purchasing an additional 37,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tilray were worth $2,617,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Prospect Financial Services LLC bought a new position in Tilray in the 2nd quarter worth approximately $26,000. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray during the third quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new position in Tilray during the second quarter valued at $29,000. Jeppson Wealth Management LLC bought a new stake in Tilray in the 2nd quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in Tilray in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

Tilray Price Performance

Tilray stock opened at $1.34 on Monday. Tilray Inc has a 52-week low of $1.28 and a 52-week high of $2.97. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $1.61 and its 200 day moving average is $1.74. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -4.96 and a beta of 2.14.

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