Geneos Wealth Management Inc. Acquires 24,754 Shares of Canopy Growth Co. (NASDAQ:CGC)

Geneos Wealth Management Inc. grew its holdings in shares of Canopy Growth Co. (NASDAQ:CGC) by 180.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 38,502 shares of the company’s stock after purchasing an additional 24,754 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Canopy Growth were worth $515,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Canopy Growth by 6.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 36,373 shares of the company’s stock worth $1,577,000 after purchasing an additional 2,296 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Canopy Growth by 40.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,340 shares of the company’s stock worth $250,000 after purchasing an additional 2,965 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Canopy Growth by 417.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 3,639 shares of the company’s stock worth $87,000 after purchasing an additional 2,936 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Canopy Growth by 527.7% in the 2nd quarter. Citigroup Inc. now owns 84,491 shares of the company’s stock worth $2,045,000 after purchasing an additional 71,031 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Canopy Growth by 10.6% in the 2nd quarter. Toronto Dominion Bank now owns 332,054 shares of the company’s stock worth $8,029,000 after purchasing an additional 31,908 shares in the last quarter. Hedge funds and other institutional investors own 14.59% of the company’s stock.

A number of equities research analysts recently commented on the company. Eight Capital lowered Canopy Growth from a “neutral” rating to a “sell” rating in a research report on Tuesday, November 30th. Wells Fargo & Company assumed coverage on Canopy Growth in a research report on Monday, December 6th. They issued an “underweight” rating and a $8.00 price target for the company. lowered Canopy Growth from a “hold” rating to a “sell” rating in a research report on Monday, November 8th. Alliance Global Partners lowered their price target on Canopy Growth from C$18.00 to C$11.00 and set a “neutral” rating for the company in a research report on Friday, January 7th. Finally, Cantor Fitzgerald lowered their price target on Canopy Growth from C$30.50 to C$21.00 and set a “neutral” rating for the company in a research report on Monday, September 20th. Seven analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.10.

Shares of Canopy Growth stock opened at $8.40 on Friday. The stock has a fifty day moving average price of $10.47 and a 200-day moving average price of $14.68. Canopy Growth Co. has a 1 year low of $7.96 and a 1 year high of $56.50. The firm has a market cap of $3.31 billion, a PE ratio of -3.16 and a beta of 1.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 9.63 and a quick ratio of 8.27.

Canopy Growth (NASDAQ:CGC) last announced its quarterly earnings data on Friday, November 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.14. Canopy Growth had a negative return on equity of 24.66% and a negative net margin of 201.25%. The company had revenue of $145.70 million during the quarter, compared to analyst estimates of $145.63 million. During the same quarter last year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Canopy Growth Co. will post -0.08 EPS for the current fiscal year.

Canopy Growth Profile

Canopy Growth Corp. engages in the production and sale of medical cannabis. The firm operates through the following segments: Global Cannabis and Other Consumer Products. The Global Cannabis segment encompasses the production, distribution and sale of a diverse range of cannabis and cannabinoid-based consumer products in Canada and internationally pursuant to applicable international and domestic legislation, regulations and permits.

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Institutional Ownership by Quarter for Canopy Growth (NASDAQ:CGC)

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