Quinn Opportunity Partners LLC Buys 840,000 Shares of Tilray Inc (NASDAQ:TLRY)

Quinn Opportunity Partners LLC lifted its stake in shares of Tilray Inc (NASDAQ:TLRY) by 108.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,618,080 shares of the company’s stock after acquiring an additional 840,000 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Tilray were worth $2,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Verdence Capital Advisors LLC purchased a new stake in Tilray in the fourth quarter worth about $29,000. Dudley Capital Management LLC bought a new stake in shares of Tilray in the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray in the 4th quarter worth approximately $32,000. Newman Dignan & Sheerar Inc. boosted its stake in shares of Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Brooklyn FI LLC purchased a new position in Tilray during the fourth quarter valued at approximately $36,000. Institutional investors own 9.35% of the company’s stock.

Tilray Trading Down 3.6 %

NASDAQ TLRY opened at $0.49 on Friday. Tilray Inc has a 52 week low of $0.44 and a 52 week high of $2.52. The company has a 50 day moving average price of $0.73 and a 200 day moving average price of $1.17. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The firm has a market cap of $457.01 million, a PE ratio of -1.62 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $185.78 million during the quarter, compared to analysts’ expectations of $213.38 million. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on TLRY shares. Piper Sandler lowered their target price on Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a report on Wednesday. Canaccord Genuity Group upped their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

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.