CIBC Asset Management Inc Increases Position in Tilray Inc (NASDAQ:TLRY)

CIBC Asset Management Inc increased its stake in shares of Tilray Inc (NASDAQ:TLRY) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 908,098 shares of the company’s stock after purchasing an additional 36,799 shares during the quarter. CIBC Asset Management Inc owned approximately 0.10% of Tilray worth $1,599,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TLRY. Prospect Financial Services LLC acquired a new stake in shares of Tilray during the second quarter worth $26,000. Ferguson Wellman Capital Management Inc. acquired a new position in 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 acquired a new stake in shares of Tilray in the second quarter valued at about $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in shares of Tilray in the second quarter valued at about $34,000. Institutional investors own 9.35% of the company’s stock.

Tilray Price Performance

TLRY stock opened at $1.31 on Wednesday. The business has a 50 day moving average price of $1.64 and a 200 day moving average price of $1.76. 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 stock has a market cap of $1.18 billion, a price-to-earnings ratio of -4.85 and a beta of 2.14. Tilray Inc has a fifty-two week low of $1.28 and a fifty-two week high of $2.97.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. Equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Tilray 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.