Prentice Capital Management LP Decreases Stake in Tilray Inc (NASDAQ:TLRY)

Prentice Capital Management LP reduced its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 92.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company’s stock after selling 1,291,616 shares during the quarter. Tilray accounts for 0.4% of Prentice Capital Management LP’s portfolio, making the stock its 25th biggest holding. Prentice Capital Management LP’s holdings in Tilray were worth $176,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the third quarter valued at $26,000. Prospect Financial Services LLC bought a new position in shares of Tilray in the 2nd quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Tilray in the second quarter worth approximately $29,000. Jeppson Wealth Management LLC bought a new stake in Tilray during the second quarter valued at approximately $33,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Tilray during the second quarter valued at approximately $37,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Stock Down 3.0 %

Tilray stock opened at $1.30 on Wednesday. Tilray Inc has a 12-month low of $1.28 and a 12-month high of $2.97. The firm has a 50 day moving average of $1.55 and a 200 day moving average of $1.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) earnings per share. On average, analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th.

About Tilray

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.