Arizona State Retirement System Buys 23,439 Shares of Tilray Inc (NASDAQ:TLRY)

Arizona State Retirement System boosted its position in shares of Tilray Inc (NASDAQ:TLRY) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,233 shares of the company’s stock after purchasing an additional 23,439 shares during the period. Arizona State Retirement System’s holdings in Tilray were worth $347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC acquired a new position in shares of Tilray during the fourth quarter worth about $29,000. Ameritas Advisory Services LLC acquired a new position in Tilray during the 4th quarter worth approximately $32,000. Newman Dignan & Sheerar Inc. grew its stake in shares of Tilray by 61.9% during the 4th 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Tilray by 125.7% in the fourth quarter. Jones Financial Companies Lllp now owns 31,725 shares of the company’s stock valued at $42,000 after purchasing an additional 17,670 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Tilray by 75.9% in the fourth quarter. KBC Group NV now owns 38,332 shares of the company’s stock worth $51,000 after purchasing an additional 16,539 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Price Performance

NASDAQ:TLRY opened at $0.61 on Friday. The stock has a market capitalization of $571.88 million, a PE ratio of -2.03 and a beta of 2.13. Tilray Inc has a 1-year low of $0.58 and a 1-year high of $2.97. The firm has a fifty day simple moving average of $0.98 and a 200 day simple moving average of $1.34. 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 announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

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

Tilray Company 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.