Geode Capital Management LLC Reduces Stock Holdings in Tilray Inc (NASDAQ:TLRY)

Geode Capital Management LLC reduced its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,002,540 shares of the company’s stock after selling 88,161 shares during the quarter. Geode Capital Management LLC owned approximately 0.22% of Tilray worth $4,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the 3rd quarter worth approximately $26,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Tilray during the second quarter valued at $34,000. Vista Capital Partners Inc. purchased a new stake in Tilray during the 3rd quarter worth about $42,000. International Assets Investment Management LLC boosted its stake in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares during the last quarter. Finally, Capital Management Associates Inc purchased a new stake in shares of Tilray during the third quarter worth about $45,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

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

Tilray Trading Down 0.7 %

NASDAQ TLRY opened at $1.45 on Monday. The company has a market cap of $1.31 billion, a P/E ratio of -5.37 and a beta of 2.08. Tilray Inc has a 12 month low of $1.14 and a 12 month high of $2.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company has a 50-day moving average of $1.40 and a 200-day moving average of $1.63.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. Tilray’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. As a group, equities analysts predict 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.