AllSquare Wealth Management LLC lowered its holdings in Canopy Growth Corp (NYSE:CGC) by 15.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,156 shares of the marijuana producer’s stock after selling 750 shares during the period. AllSquare Wealth Management LLC’s holdings in Canopy Growth were worth $180,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of Canopy Growth in the first quarter worth approximately $25,000. Private Capital Group LLC increased its position in shares of Canopy Growth by 221.5% in the first quarter. Private Capital Group LLC now owns 643 shares of the marijuana producer’s stock worth $28,000 after acquiring an additional 443 shares in the last quarter. Lee Financial Co increased its position in shares of Canopy Growth by 884.1% in the first quarter. Lee Financial Co now owns 679 shares of the marijuana producer’s stock worth $29,000 after acquiring an additional 610 shares in the last quarter. Sterling Investment Advisors Ltd. increased its position in shares of Canopy Growth by 273.5% in the first quarter. Sterling Investment Advisors Ltd. now owns 747 shares of the marijuana producer’s stock worth $32,000 after acquiring an additional 547 shares in the last quarter. Finally, Kistler Tiffany Companies LLC increased its position in shares of Canopy Growth by 155.7% in the first quarter. Kistler Tiffany Companies LLC now owns 767 shares of the marijuana producer’s stock worth $33,000 after acquiring an additional 467 shares in the last quarter. 8.05% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on CGC. CIBC began coverage on shares of Canopy Growth in a research report on Friday, January 18th. They set an “outperform” rating on the stock. Piper Jaffray Companies boosted their price objective on shares of Canopy Growth from $40.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, January 25th. GMP Securities downgraded shares of Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Seaport Global Securities began coverage on shares of Canopy Growth in a research report on Thursday, February 21st. They set a “neutral” rating and a $46.27 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of Canopy Growth in a research report on Monday, February 25th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Canopy Growth has an average rating of “Buy” and an average target price of $57.85.
Shares of CGC opened at $45.40 on Thursday. Canopy Growth Corp has a 52 week low of $24.21 and a 52 week high of $59.25. The company has a market cap of $15.06 billion, a P/E ratio of -141.88 and a beta of 4.17. The company has a current ratio of 17.85, a quick ratio of 17.12 and a debt-to-equity ratio of 0.10.
Canopy Growth (NYSE:CGC) last announced its quarterly earnings data on Thursday, February 14th. The marijuana producer reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.52). Canopy Growth had a negative net margin of 267.40% and a negative return on equity of 14.39%. The company had revenue of $62.85 million for the quarter, compared to analysts’ expectations of $66.09 million. On average, equities research analysts predict that Canopy Growth Corp will post -1.08 EPS for the current year.
Canopy Growth Profile
Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names.
Read More: Index Funds
Want to see what other hedge funds are holding CGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canopy Growth Corp (NYSE:CGC).
Receive News & Ratings for Canopy Growth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canopy Growth and related companies with MarketBeat.com's FREE daily email newsletter.