Tidal Investments LLC Sells 1,306,242 Shares of Tilray Inc (NASDAQ:TLRY)

Tidal Investments LLC reduced its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,706,178 shares of the company’s stock after selling 1,306,242 shares during the period. Tidal Investments LLC’s holdings in Tilray were worth $17,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in Tilray by 22.6% during 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 last quarter. Bank of Montreal Can boosted its holdings in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after buying an additional 9,171 shares in the last quarter. Pallas Capital Advisors LLC increased 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 buying an additional 11,632 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in Tilray during the third quarter worth $26,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm lowered 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 Stock Performance

Shares of TLRY stock traded down $0.03 during trading on Thursday, reaching $1.23. 4,060,803 shares of the company’s stock were exchanged, compared to its average volume of 25,591,670. The firm’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.68. Tilray Inc has a twelve month low of $1.22 and a twelve month high of $2.97. The stock has a market capitalization of $1.11 billion, a PE ratio of -4.67 and a beta of 2.09. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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