Tilray Inc (NASDAQ:TLRY) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Tilray Inc (NASDAQ:TLRY) by 32.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 432,031 shares of the company’s stock after purchasing an additional 105,803 shares during the period. JPMorgan Chase & Co.’s holdings in Tilray were worth $760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray in the third quarter valued at approximately $26,000. International Assets Investment Management LLC boosted its holdings 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. Vista Capital Partners Inc. acquired a new stake in shares of Tilray in the third quarter valued at approximately $42,000. Capital Management Associates Inc purchased a new position in Tilray during the third quarter worth approximately $45,000. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after acquiring an additional 11,632 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Stock Performance

Shares of TLRY stock opened at $1.14 on Monday. The firm has a fifty day moving average price of $1.30 and a 200 day moving average price of $1.58. The company has a market cap of $1.07 billion, a P/E ratio of -3.80 and a beta of 2.08. Tilray Inc has a 12 month low of $1.11 and a 12 month high of $2.97. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TLRY has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Roth Mkm cut their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Tilray currently has an average rating of “Hold” and a consensus price target of $2.70.

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.