Tilray Inc (NASDAQ:TLRY) Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in Tilray Inc (NASDAQ:TLRY) by 58.2% during the fourth quarter, Holdings Channel reports. The firm owned 668,800 shares of the company’s stock after acquiring an additional 246,000 shares during the period. Alberta Investment Management Corp’s holdings in Tilray were worth $884,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after purchasing an additional 7,339 shares during the period. Bank of Montreal Can increased its holdings in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. grew its holdings in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 shares during the period. Pallas Capital Advisors LLC grew its holdings in Tilray by 58.1% during the third 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. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray during the third quarter worth about $26,000. 9.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Tilray has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 9.7 %

Shares of TLRY opened at $0.95 on Friday. 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 Inc has a 12 month low of $0.83 and a 12 month high of $2.97. The stock’s 50 day moving average is $1.17 and its two-hundred day moving average is $1.46. The firm has a market cap of $892.18 million, a P/E ratio of -3.17 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last issued 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Tilray Profile

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.