Prentice Capital Management LP Decreases Stock Holdings in Tilray Inc (NASDAQ:TLRY)

Prentice Capital Management LP reduced its holdings in Tilray Inc (NASDAQ:TLRY) by 92.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 100,000 shares of the company’s stock after selling 1,291,616 shares during the period. Tilray comprises approximately 0.4% of Prentice Capital Management LP’s portfolio, making the stock its 25th biggest holding. Prentice Capital Management LP’s holdings in Tilray were worth $176,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Tilray by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after buying an additional 117,891 shares during the period. California State Teachers Retirement System raised its stake in shares of Tilray by 4.4% in the first quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock valued at $1,677,000 after acquiring an additional 28,586 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Tilray by 209.5% in the 1st quarter. Cetera Advisors LLC now owns 115,665 shares of the company’s stock worth $286,000 after acquiring an additional 78,292 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Tilray by 80.8% during the 2nd quarter. SG Americas Securities LLC now owns 345,240 shares of the company’s stock worth $573,000 after purchasing an additional 154,334 shares during the period. Finally, Prospect Financial Services LLC purchased a new position in shares of Tilray during the 2nd quarter worth about $26,000. 9.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost 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 approximately $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Tilray Stock Down 3.0 %

NASDAQ TLRY opened at $1.30 on Wednesday. Tilray Inc has a 12 month low of $1.28 and a 12 month high of $2.97. The company’s 50-day moving average price is $1.55 and its 200-day moving average price is $1.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting 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 business had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same period in the prior year, the firm earned ($0.10) EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

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

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.