Westside Investment Management Inc. Reduces Position in Tilray Inc (NASDAQ:TLRY)


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Westside Investment Management Inc. lessened its position in shares of Tilray Inc (NASDAQ:TLRY) by 48.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,800 shares of the company’s stock after selling 2,600 shares during the quarter. Westside Investment Management Inc.’s holdings in Tilray were worth $31,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Tilray during the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC lifted its position in Tilray by 25.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 3,500 shares of the company’s stock worth $29,000 after acquiring an additional 700 shares during the period. Advisory Services Network LLC lifted its position in Tilray by 120.0% during the 4th quarter. Advisory Services Network LLC now owns 3,912 shares of the company’s stock worth $32,000 after acquiring an additional 2,134 shares during the period. Global Retirement Partners LLC lifted its position in Tilray by 71.8% during the 1st quarter. Global Retirement Partners LLC now owns 1,735 shares of the company’s stock worth $39,000 after acquiring an additional 725 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new stake in Tilray during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 12.62% of the company’s stock.

TLRY has been the subject of several recent analyst reports. Stifel Nicolaus raised Tilray from a “sell” rating to a “hold” rating in a report on Thursday, December 17th. Alliance Global Partners raised their price target on Tilray from $18.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, February 18th. Zacks Investment Research cut Tilray from a “buy” rating to a “hold” rating in a report on Friday, February 5th. Cantor Fitzgerald lifted their price objective on Tilray from $24.20 to $30.25 and gave the stock a “neutral” rating in a report on Tuesday, February 16th. Finally, Roth Capital lifted their price objective on Tilray from $10.00 to $25.00 in a report on Thursday, February 18th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.08.

Shares of NASDAQ:TLRY traded up $0.02 during midday trading on Friday, reaching $16.96. The company’s stock had a trading volume of 185,470 shares, compared to its average volume of 38,324,133. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -3.73 and a beta of 3.12. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 2.75. Tilray Inc has a 1 year low of $4.41 and a 1 year high of $67.00. The business has a 50 day moving average price of $23.34 and a 200 day moving average price of $15.15.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Wednesday, February 17th. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.06. The business had revenue of $56.56 million during the quarter, compared to the consensus estimate of $55.55 million. Tilray had a negative return on equity of 92.70% and a negative net margin of 242.60%. Sell-side analysts anticipate that Tilray Inc will post -0.92 earnings per share 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 Nanaimo, Canada.

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Institutional Ownership by Quarter for Tilray (NASDAQ:TLRY)

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