Man Group plc Purchases Shares of 909,470 SNDL Inc. $SNDL

Man Group plc acquired a new stake in shares of SNDL Inc. (NASDAQ:SNDL) during the 2nd quarter, Holdings Channel reports. The firm acquired 909,470 shares of the company’s stock, valued at approximately $1,228,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of SNDL in the 1st quarter valued at about $130,000. Goldman Sachs Group Inc. increased its position in SNDL by 17.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 424,317 shares of the company’s stock valued at $598,000 after buying an additional 62,004 shares in the last quarter. XTX Topco Ltd acquired a new position in SNDL during the 2nd quarter worth approximately $85,000. Qube Research & Technologies Ltd raised its stake in SNDL by 78.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 354,965 shares of the company’s stock worth $430,000 after buying an additional 155,854 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in SNDL by 7.5% in the second quarter. BNP Paribas Financial Markets now owns 4,853,517 shares of the company’s stock worth $5,873,000 after acquiring an additional 338,278 shares in the last quarter.

SNDL Trading Up 4.4%

NASDAQ:SNDL opened at $1.42 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.76 and a quick ratio of 3.11. SNDL Inc. has a one year low of $1.17 and a one year high of $2.89. The company has a market cap of $365.51 million, a PE ratio of -23.67 and a beta of 0.96. The firm has a 50-day moving average of $1.30 and a 200-day moving average of $1.40.

SNDL (NASDAQ:SNDL) last announced its quarterly earnings results on Tuesday, July 28th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $165.94 million during the quarter, compared to the consensus estimate of $166.26 million. SNDL had a negative net margin of 2.36% and a negative return on equity of 2.01%. As a group, equities research analysts expect that SNDL Inc. will post -0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings raised SNDL from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered SNDL from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded SNDL from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

SNDL Profile

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.