MML Investors Services LLC Buys New Position in Tilray Inc (TLRY)
MML Investors Services LLC bought a new stake in shares of Tilray Inc (NASDAQ:TLRY) during the 3rd quarter, Holdings Channel reports. The fund bought 3,048 shares of the company’s stock, valued at approximately $438,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc purchased a new position in shares of Tilray during the third quarter valued at approximately $154,000. G&S Capital LLC purchased a new position in shares of Tilray during the third quarter valued at approximately $155,000. Stratos Wealth Partners LTD. purchased a new position in shares of Tilray during the third quarter valued at approximately $221,000. Oppenheimer & Co. Inc. purchased a new position in shares of Tilray during the third quarter valued at approximately $242,000. Finally, Parker Investment Management LLC purchased a new position in shares of Tilray during the third quarter valued at approximately $306,000. 6.08% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on TLRY. Cowen began coverage on Tilray in a research note on Monday, August 13th. They set an “outperform” rating and a $34.00 target price on the stock. Northland Securities cut Tilray from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 6th. Zacks Investment Research cut Tilray from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Benchmark began coverage on Tilray in a research note on Tuesday, October 16th. They issued a “buy” rating and a $200.00 price target on the stock. Finally, Roth Capital cut Tilray from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $135.67.
Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, November 13th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.08). The firm had revenue of $10.00 million during the quarter, compared to analysts’ expectations of $10.25 million. Tilray had a negative return on equity of 60.74% and a negative net margin of 121.22%. The firm’s revenue for the quarter was up 85.2% compared to the same quarter last year. On average, equities research analysts predict that Tilray Inc will post -0.57 earnings per share for the current fiscal year.
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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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