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

JPMorgan Chase & Co. raised its stake in Tilray Inc (NASDAQ:TLRY) by 32.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 432,031 shares of the company’s stock after acquiring an additional 105,803 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tilray were worth $760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its stake in 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 last quarter. Bank of Montreal Can lifted its holdings in shares of Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after acquiring an additional 7,406 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Tilray by 58.1% in 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 last quarter. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the third quarter worth approximately $26,000. Finally, International Assets Investment Management LLC raised its stake in Tilray by 335.3% during the third 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 period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on TLRY shares. Canaccord Genuity Group upped their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Roth Mkm dropped their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

NASDAQ:TLRY opened at $1.14 on Monday. Tilray Inc has a twelve month low of $1.11 and a twelve month high of $2.97. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -3.80 and a beta of 2.08. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $1.30 and its 200 day simple moving average is $1.58.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect 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.