Quinn Opportunity Partners LLC Sells 520,000 Shares of Tilray Brands, Inc. $TLRY

Quinn Opportunity Partners LLC lowered its position in shares of Tilray Brands, Inc. (NASDAQ:TLRY) by 27.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,398,080 shares of the company’s stock after selling 520,000 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Tilray Brands were worth $2,419,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TLRY. Tidal Investments LLC boosted its position in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after buying an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands during the second quarter worth approximately $939,000. AQR Capital Management LLC raised its stake in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after acquiring an additional 575,757 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Tilray Brands by 526.7% in the third quarter. SG Americas Securities LLC now owns 421,105 shares of the company’s stock valued at $729,000 after acquiring an additional 353,911 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Tilray Brands in the 2nd quarter worth approximately $112,000. 9.35% of the stock is owned by institutional investors.

Tilray Brands Stock Down 0.9%

NASDAQ:TLRY opened at $6.89 on Friday. The company has a market cap of $802.75 million, a price-to-earnings ratio of -0.31 and a beta of 1.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The stock’s fifty day moving average price is $8.08 and its two-hundred day moving average price is $10.79. Tilray Brands, Inc. has a 52-week low of $3.51 and a 52-week high of $23.20.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, January 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.12. The company had revenue of $217.51 million during 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 period last year, the firm earned ($0.03) EPS. On average, analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TLRY. Roth Mkm decreased their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. ATB Cormark Capital Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.33.

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.