5 Investors Are Betting Big on Tilray (TLRY) Stock

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Shares of Tilray (NASDAQ:TLRY) are booming as a result of two major catalysts. The company announced its fiscal 2023 first-quarter results, while President Joe Biden announced that more than 6,500 people with previous convictions for simple possession of marijuana would have their charges pardoned. The pardons only apply to federal offenders in possession of marijuana, although Biden has urged state governors to do the same.

The president also began talks with Health and Human Services Secretary Xavier Becerra and Attorney General Merrick Garland to review marijuana as a Schedule 1 drug. He added that the drug’s classification “n ‘makes no sense’ because it carries the same federal sentencing guidelines as heroin and LSD.

Biden’s decision is a big step toward easing the unfair stigma associated with marijuana. If state governors follow suit, millions of people across the country will have their marijuana charges pardoned, paving the way for brighter career paths.

Meanwhile, Tilray reported first-quarter revenue of $153.2 million, down 9% year-over-year. Adjusted earnings before interest, taxes, deductions, and amortization (EBITDA) reached $13.5 million. This is the 14th consecutive quarter of positive EBITDA and the second highest since the company was founded.

Additionally, Tilray maintained its leading position in marijuana in Canada with an 8.5% market share. Globally, Tilray ranks first for cannabis revenue in legal federal markets excluding the United States

Expansion is a top priority for the company and it is progressing steadily in Europe. In Germany, Tilray is already the leader in medical cannabis.

With that in mind, let’s take a look at the best investors betting on TLRY stocks.

5 investors are betting big on TLRY stocks

Tracking institutional ownership is important because these large investors provide liquidity and price support for stocks. During the second quarter, 339 13F filers reported owning TLRY, a decrease of 15 filers from the previous quarter. In addition, the institutional put/call ratio stands at 0.78, compared to 0.72 in the first quarter. This means that the funds hold more call options against the company than put options. So who are Tilray’s five biggest investors?

  1. ETF Managers Group: 8.35 million shares. ETF Managers sold 1.26 million shares during the second quarter.
  2. Morgan Stanley (NYSE:MRS): 8.29 million shares. Morgan Stanley bought 5.69 million shares during the second quarter.
  3. International Susquehanna Group: 7.12 million shares. Susquehanna purchased 1.05 million shares during the second quarter.
  4. Two Sigma investments: 2.32 million shares. Two Sigma purchased its entire stake during the second quarter.
  5. Avant-garde: 2.09 million shares. Vanguard bought 23,842 shares during the second quarter.

At the date of publication, Eddie Pan held (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to Publication guidelines.

Eddie Pan specializes in institutional investments and insider trading. He writes for InvestorPlace’s Today’s Market team, which focuses on the latest news on popular stocks.


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