Lee Financial Co lifted its holdings in shares of Canopy Growth Corp (NYSE:CGC) by 884.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 679 shares of the marijuana producer’s stock after purchasing an additional 610 shares during the period. Lee Financial Co’s holdings in Canopy Growth were worth $29,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Canopy Growth in the 3rd quarter worth approximately $246,000. Renaissance Technologies LLC acquired a new position in Canopy Growth in the 3rd quarter worth approximately $5,536,000. AQR Capital Management LLC increased its holdings in Canopy Growth by 183.7% in the 3rd quarter. AQR Capital Management LLC now owns 75,423 shares of the marijuana producer’s stock worth $3,661,000 after buying an additional 48,835 shares during the period. Glenmede Trust Co. NA acquired a new position in Canopy Growth in the 3rd quarter worth approximately $223,000. Finally, Morgan Stanley increased its holdings in Canopy Growth by 243.3% in the 3rd quarter. Morgan Stanley now owns 4,144,694 shares of the marijuana producer’s stock worth $201,598,000 after buying an additional 2,937,286 shares during the period. Institutional investors own 7.82% of the company’s stock.
Several equities analysts recently weighed in on CGC shares. GMP Securities downgraded shares of Canopy Growth from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Piper Jaffray Companies set a $60.00 price objective on shares of Canopy Growth and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Jefferies Financial Group assumed coverage on shares of Canopy Growth in a research note on Monday, February 25th. They set a “hold” rating on the stock. Seaport Global Securities assumed coverage on shares of Canopy Growth in a research note on Thursday, February 21st. They set a “neutral” rating and a $46.27 price objective on the stock. Finally, Alliance Global Partners assumed coverage on shares of Canopy Growth in a research note on Monday, May 13th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $57.85.
Shares of NYSE CGC traded down $0.14 during midday trading on Friday, reaching $44.42. 2,178,006 shares of the stock were exchanged, compared to its average volume of 7,957,951. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of -138.81 and a beta of 4.17. Canopy Growth Corp has a twelve month low of $24.21 and a twelve month high of $59.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12.
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Canopy Growth Profile
Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names.
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