Pilgrim Partners Asia Pte Ltd Takes $48,000 Position in Tilray Inc (NASDAQ:TLRY)

Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Tilray Inc (NASDAQ:TLRY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 36,000 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors have also recently added to or reduced their stakes in TLRY. Newman Dignan & Sheerar Inc. grew its stake in shares of Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares during the last quarter. KBC Group NV grew its position in Tilray by 75.9% in the 4th quarter. KBC Group NV now owns 38,332 shares of the company’s stock valued at $51,000 after buying an additional 16,539 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Tilray by 125.7% in the 4th quarter. Jones Financial Companies Lllp now owns 31,725 shares of the company’s stock valued at $42,000 after buying an additional 17,670 shares during the period. Pallas Capital Advisors LLC raised its position in Tilray by 59.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company’s stock worth $67,000 after buying an additional 18,792 shares during the last quarter. Finally, Madrona Financial Services LLC lifted its stake in shares of Tilray by 40.0% in the 4th quarter. Madrona Financial Services LLC now owns 70,000 shares of the company’s stock worth $93,000 after acquiring an additional 20,000 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

Analysts Set New Price Targets

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

Tilray Price Performance

Shares of NASDAQ TLRY opened at $0.59 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. Tilray Inc has a one year low of $0.55 and a one year high of $2.77. The firm has a market capitalization of $555.28 million, a P/E ratio of -1.97 and a beta of 1.88. The company’s fifty day moving average is $0.80 and its two-hundred day moving average is $1.23.

Tilray (NASDAQ:TLRY) last released 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). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts forecast that Tilray Inc will post -0.2 EPS 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.