UBS Group AG Sells 1,997,852 Shares of Tilray Brands, Inc. $TLRY

UBS Group AG reduced its position in shares of Tilray Brands, Inc. (NASDAQ:TLRY) by 72.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 778,593 shares of the company’s stock after selling 1,997,852 shares during the period. UBS Group AG owned about 0.67% of Tilray Brands worth $7,031,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in Tilray Brands in the 3rd quarter valued at about $518,000. Optiver Holding B.V. increased its position in Tilray Brands by 239.4% in the 3rd quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock valued at $388,000 after acquiring an additional 158,041 shares in the last quarter. Cresset Asset Management LLC increased its position in Tilray Brands by 72.1% in the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock valued at $868,000 after acquiring an additional 210,267 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Tilray Brands by 99,204,800.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after acquiring an additional 992,048 shares in the last quarter. Finally, Zuckerman Investment Group LLC acquired a new stake in Tilray Brands in the 3rd quarter valued at about $147,000. 9.35% of the stock is owned by institutional investors.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is currently owned by corporate insiders.

Tilray Brands Stock Up 0.6%

Shares of NASDAQ:TLRY opened at $5.21 on Wednesday. Tilray Brands, Inc. has a one year low of $3.51 and a one year high of $23.20. The company has a 50 day moving average of $6.46 and a 200-day moving average of $8.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The stock has a market cap of $607.23 million, a price-to-earnings ratio of -0.38 and a beta of 1.94.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The business had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. During the same quarter in the prior year, the firm earned ($0.87) EPS. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TLRY. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, TD Cowen lowered their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tilray Brands has a consensus rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Company 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.