Public Sector Pension Investment Board Has $3.68 Million Stock Holdings in Cronos Group Inc (NASDAQ:CRON)

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Public Sector Pension Investment Board cut its stake in shares of Cronos Group Inc (NASDAQ:CRON) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 478,200 shares of the company’s stock after selling 14,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cronos Group were worth $3,677,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. boosted its stake in Cronos Group by 473.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 77,764 shares of the company’s stock valued at $595,000 after purchasing an additional 64,200 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Cronos Group in the fourth quarter worth approximately $384,000. Oxford Asset Management LLP bought a new position in shares of Cronos Group in the fourth quarter worth approximately $992,000. Formidable Asset Management LLC lifted its stake in shares of Cronos Group by 74.9% in the fourth quarter. Formidable Asset Management LLC now owns 49,895 shares of the company’s stock worth $383,000 after buying an additional 21,370 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Cronos Group by 95.6% in the fourth quarter. Toronto Dominion Bank now owns 56,587 shares of the company’s stock worth $435,000 after buying an additional 27,661 shares in the last quarter. 14.37% of the stock is currently owned by institutional investors.

Shares of CRON traded up $0.69 during mid-day trading on Thursday, hitting $6.32. 550,272 shares of the company traded hands, compared to its average volume of 6,822,344. The stock has a 50-day moving average price of $6.23 and a two-hundred day moving average price of $7.65. Cronos Group Inc has a 1 year low of $4.00 and a 1 year high of $20.74. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 7.26 and a beta of 3.03.

Several research firms have recently weighed in on CRON. Zacks Investment Research raised shares of Cronos Group from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Tuesday, March 17th. MKM Partners raised shares of Cronos Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $12.00 to $11.00 in a report on Wednesday, March 4th. Raymond James set a $12.00 price objective on shares of Cronos Group and gave the company an “outperform” rating in a report on Saturday, December 21st. ValuEngine raised shares of Cronos Group from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus cut shares of Cronos Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $8.00 in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Cronos Group currently has a consensus rating of “Hold” and an average target price of $14.78.

About Cronos Group

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations “MMPR”. The firm typically invests in companies based in Canada.

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Want to see what other hedge funds are holding CRON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cronos Group Inc (NASDAQ:CRON).

Institutional Ownership by Quarter for Cronos Group (NASDAQ:CRON)

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