Mackenzie Financial Corp Has $118,000 Stock Position in Canopy Growth Co. (NASDAQ:CGC)

Mackenzie Financial Corp cut its holdings in Canopy Growth Co. (NASDAQ:CGC) by 86.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,082 shares of the company’s stock after selling 150,248 shares during the quarter. Mackenzie Financial Corp’s holdings in Canopy Growth were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC increased its position in Canopy Growth by 197.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 43,179 shares of the company’s stock valued at $34,000 after buying an additional 28,666 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Canopy Growth by 83.3% during the third quarter. Commonwealth Equity Services LLC now owns 544,333 shares of the company’s stock valued at $426,000 after acquiring an additional 247,407 shares in the last quarter. TD Asset Management Inc raised its position in shares of Canopy Growth by 26.2% during the third quarter. TD Asset Management Inc now owns 383,086 shares of the company’s stock worth $298,000 after purchasing an additional 79,639 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Canopy Growth in the 3rd quarter worth $18,140,000. Finally, Sycomore Asset Management acquired a new stake in Canopy Growth in the 3rd quarter valued at $39,000. 3.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CGC has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of Canopy Growth from $5.00 to $3.00 and set an “underperform” rating on the stock in a research note on Monday, February 12th. Sanford C. Bernstein boosted their price objective on Canopy Growth to $5.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st.

Canopy Growth Price Performance

CGC opened at $8.32 on Tuesday. Canopy Growth Co. has a 1 year low of $2.76 and a 1 year high of $19.20. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.79 and a quick ratio of 1.40. The company has a market capitalization of $833.91 million, a price-to-earnings ratio of -0.55 and a beta of 1.37. The firm’s fifty day moving average price is $6.07 and its two-hundred day moving average price is $5.51.

Canopy Growth (NASDAQ:CGC) last released its quarterly earnings results on Friday, February 9th. The company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($1.34). Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 73.48%. The firm had revenue of $57.67 million for the quarter, compared to the consensus estimate of $53.25 million. As a group, analysts anticipate that Canopy Growth Co. will post -6.14 earnings per share for the current fiscal year.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.