83,869 Shares of Trulieve Cannabis Corp. $TRLV Bought by JW Asset Management LLC

JW Asset Management LLC bought a new stake in Trulieve Cannabis Corp. (NYSE:TRLV) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 83,869 shares of the company’s stock, valued at approximately $914,000. Trulieve Cannabis accounts for about 0.4% of JW Asset Management LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new stake in shares of Trulieve Cannabis in the third quarter valued at approximately $341,000. Commonwealth Equity Services LLC acquired a new position in shares of Trulieve Cannabis in the 3rd quarter valued at $242,000. Partners Wealth Management LLC acquired a new position in shares of Trulieve Cannabis in the 3rd quarter valued at $504,000. North Star Investment Management Corp. purchased a new stake in Trulieve Cannabis in the 3rd quarter valued at $28,000. Finally, Marion Wealth Management purchased a new stake in Trulieve Cannabis in the 3rd quarter valued at $109,000.

Trulieve Cannabis Price Performance

Shares of TRLV opened at $11.11 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.65 and a current ratio of 5.52. Trulieve Cannabis Corp. has a 1 year low of $4.62 and a 1 year high of $13.28. The firm has a fifty day moving average price of $11.15.

Trulieve Cannabis (NYSE:TRLV) last issued its earnings results on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Trulieve Cannabis had a negative net margin of 41.22% and a negative return on equity of 0.34%. The business had revenue of $230.20 million for the quarter, compared to the consensus estimate of $221.79 million. On average, sell-side analysts predict that Trulieve Cannabis Corp. will post 0.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Trulieve Cannabis from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective on shares of Trulieve Cannabis in a research note on Monday, November 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trulieve Cannabis in a report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Trulieve Cannabis currently has a consensus rating of “Hold” and a consensus target price of $15.00.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a U.S. cannabis company that cultivates, processes and sells cannabis products through a vertically integrated business. Its offerings include flower, concentrates, vape products, edibles and other cannabis products, sold under brands such as Trulieve and Modern Flower. Founded in Florida in 2015, the company built its business in that state and expanded into other U.S. markets, including Arizona and Pennsylvania. Its operations and product offerings are shaped by the regulations in each state where it operates.