Quinn Opportunity Partners LLC Buys 3,138,018 Shares of Cronos Group Inc. $CRON

Quinn Opportunity Partners LLC lifted its stake in Cronos Group Inc. (NASDAQ:CRON) by 73.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,437,944 shares of the company’s stock after purchasing an additional 3,138,018 shares during the quarter. Cronos Group accounts for approximately 1.2% of Quinn Opportunity Partners LLC’s holdings, making the stock its 15th biggest position. Quinn Opportunity Partners LLC’s holdings in Cronos Group were worth $14,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in Cronos Group by 84.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,076,405 shares of the company’s stock worth $1,948,000 after buying an additional 493,161 shares during the last quarter. Bastion Asset Management Inc. bought a new position in Cronos Group during the 2nd quarter valued at about $619,000. Nuveen LLC bought a new position in Cronos Group during the 1st quarter valued at about $341,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Cronos Group by 161.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 125,000 shares of the company’s stock valued at $240,000 after acquiring an additional 77,200 shares during the last quarter. Finally, MMCAP International Inc. SPC grew its stake in shares of Cronos Group by 2.9% in the first quarter. MMCAP International Inc. SPC now owns 1,786,382 shares of the company’s stock worth $3,233,000 after acquiring an additional 49,782 shares during the period. 8.71% of the stock is currently owned by institutional investors.

Cronos Group Stock Down 1.6%

Shares of CRON stock opened at $2.52 on Wednesday. The stock has a market cap of $964.88 million, a P/E ratio of 25.20 and a beta of 1.14. The company’s fifty day simple moving average is $2.56 and its two-hundred day simple moving average is $2.26. Cronos Group Inc. has a 52 week low of $1.60 and a 52 week high of $3.16.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. Cronos Group had a negative return on equity of 0.84% and a net margin of 27.27%.The business had revenue of $36.34 million for the quarter, compared to the consensus estimate of $36.47 million. On average, analysts anticipate that Cronos Group Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRON shares. Wall Street Zen upgraded shares of Cronos Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cronos Group in a report on Wednesday, October 8th. Finally, Zacks Research raised Cronos Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Cronos Group Profile

Cronos Group Inc operates as a cannabinoid company that engages in the cultivation, production and marketing of cannabis products in Canada, Israel, and Germany. It offers dried flower, pre-rolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach, Lord Jones, and PEACE NATURALS brands.