State of New Jersey Common Pension Fund D Purchases 66,322 Shares of Tilray Inc (NASDAQ:TLRY)

State of New Jersey Common Pension Fund D raised its position in shares of Tilray Inc (NASDAQ:TLRYGet Rating) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 481,295 shares of the company’s stock after acquiring an additional 66,322 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Tilray worth $1,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Prospera Financial Services Inc bought a new position in Tilray during the first quarter valued at $54,000. Toronto Dominion Bank lifted its stake in Tilray by 57.1% in the first quarter. Toronto Dominion Bank now owns 7,692 shares of the company’s stock worth $60,000 after acquiring an additional 2,795 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in Tilray in the first quarter worth about $73,000. Cetera Advisor Networks LLC purchased a new stake in Tilray in the first quarter worth about $82,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Tilray in the second quarter worth about $37,000. Institutional investors own 12.10% of the company’s stock.

Insider Buying and Selling

In related news, Director Brendan Kennedy sold 350,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $3.22, for a total value of $1,127,000.00. Following the transaction, the director now owns 6,924,196 shares in the company, valued at approximately $22,295,911.12. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 1,050,000 shares of company stock worth $3,468,500. 2.54% of the stock is owned by company insiders.

Tilray Stock Performance

TLRY opened at $3.89 on Friday. Tilray Inc has a 52-week low of $2.65 and a 52-week high of $13.95. The company has a quick ratio of 2.44, a current ratio of 3.33 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.38 billion, a P/E ratio of -4.14 and a beta of 2.67. The firm’s 50-day moving average price is $3.31 and its 200-day moving average price is $3.73.

Tilray (NASDAQ:TLRYGet Rating) last posted its quarterly earnings data on Friday, October 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Tilray had a negative net margin of 78.33% and a negative return on equity of 4.33%. The company had revenue of $153.20 million for the quarter, compared to analyst estimates of $156.85 million. During the same quarter last year, the company earned ($0.08) EPS. The business’s revenue was down 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tilray Inc will post -0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cowen lowered their price objective on shares of Tilray from $23.00 to $9.00 in a research note on Friday, July 29th. Cowen decreased their price target on shares of Tilray from $23.00 to $9.00 in a research report on Friday, July 29th. Roth Capital decreased their price target on shares of Tilray from $8.00 to $4.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Cantor Fitzgerald increased their price target on shares of Tilray from $4.15 to $4.50 and gave the company a “neutral” rating in a research report on Monday, October 10th. Finally, Benchmark lowered shares of Tilray from a “hold” rating to a “sell” rating and set a $3.00 price target for the company. in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Tilray presently has a consensus rating of “Hold” and an average price target of $5.49.

Tilray Profile

(Get Rating)

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 Nanaimo, Canada.

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Institutional Ownership by Quarter for Tilray (NASDAQ:TLRY)

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