Zuckerman Investment Group LLC Takes $147,000 Position in Tilray Brands, Inc. $TLRY

Zuckerman Investment Group LLC bought a new position in shares of Tilray Brands, Inc. (NASDAQ:TLRY) during the third quarter, HoldingsChannel reports. The fund bought 85,000 shares of the company’s stock, valued at approximately $147,000.

A number of other institutional investors have also modified their holdings of TLRY. Silverlake Wealth Management LLC purchased a new stake in Tilray Brands in the 3rd quarter valued at $25,000. Oppenheimer & Co. Inc. acquired a new position in Tilray Brands in the third quarter valued at $25,000. Unified Investment Management purchased a new stake in shares of Tilray Brands in the third quarter valued at about $26,000. J.W. Cole Advisors Inc. raised its holdings in shares of Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Tilray Brands during the third quarter worth about $30,000. 9.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on TLRY shares. Canaccord Genuity Group started coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating for the company. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Finally, Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.33.

Tilray Brands Price Performance

Shares of NASDAQ:TLRY opened at $6.89 on Friday. Tilray Brands, Inc. has a 52 week low of $3.51 and a 52 week high of $23.20. The company has a 50-day moving average price of $8.08 and a 200 day moving average price of $10.79. The company has a market cap of $802.75 million, a P/E ratio of -0.31 and a beta of 1.96. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.12. The company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same quarter in the previous year, the firm posted ($0.03) EPS. Research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Tilray Brands Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.