Concurrent Investment Advisors LLC Takes $110,000 Position in Tilray Inc (NASDAQ:TLRY)

Concurrent Investment Advisors LLC purchased a new stake in shares of Tilray Inc (NASDAQ:TLRY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,397 shares of the company’s stock, valued at approximately $110,000.

Several other hedge funds have also modified their holdings of TLRY. Tidal Investments LLC grew its stake in shares of Tilray by 36,687.0% during the first quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after purchasing an additional 10,648,403 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Tilray during the first quarter valued at approximately $586,000. J.W. Cole Advisors Inc. grew its stake in shares of Tilray by 1,077.2% during the second quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock valued at $284,000 after purchasing an additional 156,524 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in Tilray by 103.1% in the second quarter. Baader Bank Aktiengesellschaft now owns 304,582 shares of the company’s stock valued at $504,000 after acquiring an additional 154,582 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Price Performance

Shares of TLRY stock opened at $1.47 on Wednesday. Tilray Inc has a 52-week low of $1.36 and a 52-week high of $2.97. The stock has a market cap of $1.33 billion, a PE ratio of -5.44 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The firm’s 50 day moving average price is $1.66 and its two-hundred day moving average price is $1.78.

Tilray (NASDAQ:TLRY) last posted its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting 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 business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business posted ($0.10) earnings per share. As a group, analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Analyst Ratings Changes

Separately, Roth Mkm reduced 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 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.