Luxor Capital Group LP Sells 1,000,000 Shares of Tilray Brands, Inc. $TLRY

Luxor Capital Group LP decreased its stake in Tilray Brands, Inc. (NASDAQ:TLRY) by 29.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,343,000 shares of the company’s stock after selling 1,000,000 shares during the period. Luxor Capital Group LP’s holdings in Tilray Brands were worth $4,053,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after purchasing an additional 575,757 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Tilray Brands by 8.8% in the second quarter. SBI Securities Co. Ltd. now owns 300,707 shares of the company’s stock worth $125,000 after acquiring an additional 24,375 shares during the last quarter. Swiss National Bank lifted its position in shares of Tilray Brands by 6.1% during the second quarter. Swiss National Bank now owns 1,928,138 shares of the company’s stock worth $799,000 after purchasing an additional 111,500 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Tilray Brands in the second quarter valued at approximately $112,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after buying an additional 48,177 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on TLRY shares. 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 restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Canaccord Genuity Group assumed coverage on Tilray Brands in a research note on Tuesday, January 27th. They set a “hold” rating for the company. Roth Mkm dropped their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Finally, ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tilray Brands presently has an average rating of “Hold” and a consensus target price of $13.33.

Tilray Brands Stock Performance

Shares of TLRY stock opened at $6.90 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. Tilray Brands, Inc. has a 52 week low of $3.51 and a 52 week high of $23.20. The company’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $10.69. The company has a market capitalization of $803.92 million, a P/E ratio of -0.31 and a beta of 1.95.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. The firm had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. During the same period in the prior year, the business earned ($0.03) EPS. On average, analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

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.