JW Asset Management LLC Makes New $914,000 Investment in Trulieve Cannabis Corp. $TRLV

JW Asset Management LLC bought a new position in shares of Trulieve Cannabis Corp. (NYSE:TRLV) during the 3rd quarter, Holdings Channel reports. The fund bought 83,869 shares of the company’s stock, valued at approximately $914,000. Trulieve Cannabis accounts for approximately 0.4% of JW Asset Management LLC’s portfolio, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in TRLV. Prime Capital Investment Advisors LLC purchased a new stake in Trulieve Cannabis during the third quarter worth about $770,000. Commonwealth Equity Services LLC acquired a new position in Trulieve Cannabis during the third quarter worth about $242,000. StoneX Group Inc. purchased a new position in Trulieve Cannabis in the third quarter valued at about $341,000. Partners Wealth Management LLC purchased a new position in Trulieve Cannabis in the third quarter valued at about $504,000. Finally, North Star Investment Management Corp. purchased a new position in Trulieve Cannabis in the third quarter valued at about $28,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRLV. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of Trulieve Cannabis in a research note on Monday, November 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trulieve Cannabis in a research note on Friday, September 11th. Finally, Wall Street Zen cut Trulieve Cannabis from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.00.

Trulieve Cannabis Stock Performance

NYSE:TRLV opened at $11.11 on Friday. Trulieve Cannabis Corp. has a 12-month low of $4.62 and a 12-month high of $13.28. The company has a 50-day moving average price of $11.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.65 and a current ratio of 5.52.

Trulieve Cannabis (NYSE:TRLV) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $230.20 million during the quarter, compared to the consensus estimate of $221.79 million. Trulieve Cannabis had a negative net margin of 41.22% and a negative return on equity of 0.34%. Analysts forecast that Trulieve Cannabis Corp. will post 0.13 earnings per share for the current fiscal year.

About Trulieve Cannabis

Trulieve Cannabis Corp. is a U.S. cannabis company that cultivates, processes and sells cannabis products through a vertically integrated business. Its offerings include flower, concentrates, vape products, edibles and other cannabis products, sold under brands such as Trulieve and Modern Flower. Founded in Florida in 2015, the company built its business in that state and expanded into other U.S. markets, including Arizona and Pennsylvania. Its operations and product offerings are shaped by the regulations in each state where it operates.