Connor Clark & Lunn Investment Management Ltd. Acquires 37,300 Shares of Tilray Inc (NASDAQ:TLRY)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,487,500 shares of the company’s stock after acquiring an additional 37,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Tilray worth $2,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TLRY. Tidal Investments LLC boosted its position in shares of Tilray by 36,687.0% in the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after purchasing an additional 10,648,403 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tilray by 3.5% in the first 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 in the last quarter. Bank of Montreal Can grew its stake in shares of Tilray by 19.6% in the second 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 last quarter. TD Asset Management Inc increased its holdings in shares of Tilray by 8.1% during the second quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock valued at $2,278,000 after acquiring an additional 103,207 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Tilray by 4.2% in the 3rd quarter. CIBC Asset Management Inc now owns 908,098 shares of the company’s stock worth $1,599,000 after purchasing an additional 36,799 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Carl A. Merton bought 26,000 shares of the 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 completion of the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Tilray Trading Up 2.3 %

Shares of NASDAQ:TLRY opened at $1.34 on Monday. Tilray Inc has a 1 year low of $1.28 and a 1 year high of $2.97. The stock’s fifty day moving average price is $1.61 and its 200-day moving average price is $1.74. The company has a market cap of $1.21 billion, a P/E ratio of -4.96 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (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 for the quarter, compared to the consensus estimate of $218.70 million. During the same quarter last year, the firm posted ($0.10) EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

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.