Tilray Inc (NASDAQ:TLRY) Shares Sold by Prentice Capital Management LP

Prentice Capital Management LP lessened its position in shares of Tilray Inc (NASDAQ:TLRY - Free Report) by 92.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company's stock after selling 1,291,616 shares during the quarter. Tilray comprises 0.4% of Prentice Capital Management LP's investment portfolio, making the stock its 25th biggest holding. Prentice Capital Management LP's holdings in Tilray were worth $176,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock valued at $70,000 after purchasing an additional 7,339 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock valued at $3,787,000 after buying an additional 7,406 shares during the period. Arizona State Retirement System lifted its holdings in shares of Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company's stock valued at $360,000 after buying an additional 9,171 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock valued at $52,000 after buying an additional 11,632 shares during the period. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the 3rd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price target on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a report on Friday, October 11th.

Insider Activity

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares of the company's stock, valued at $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.87% of the company's stock.

Tilray Price Performance

TLRY stock traded down $0.02 during midday trading on Wednesday, hitting $1.28. 18,182,313 shares of the stock were exchanged, compared to its average volume of 25,452,260. The stock's 50-day moving average price is $1.55 and its 200-day moving average price is $1.71. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -4.74 and a beta of 2.08. Tilray Inc has a fifty-two week low of $1.28 and a fifty-two week high of $2.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million during the quarter, compared to analysts' expectations of $218.70 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. Tilray's revenue was up 13.0% on a year-over-year basis. Research analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

About Tilray

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 Canada.