Creative Planning decreased its holdings in shares of Cronos Group Inc (NASDAQ:CRON) by 16.6% in the 4th quarter, Holdings Channel reports. The firm owned 34,398 shares of the company’s stock after selling 6,837 shares during the period. Creative Planning’s holdings in Cronos Group were worth $264,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Squarepoint Ops LLC purchased a new position in shares of Cronos Group during the third quarter worth about $119,000. Penserra Capital Management LLC purchased a new stake in Cronos Group in the third quarter worth approximately $72,000. FinTrust Capital Advisors LLC boosted its stake in Cronos Group by 2,080.0% in the fourth quarter. FinTrust Capital Advisors LLC now owns 4,360 shares of the company’s stock worth $33,000 after buying an additional 4,160 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in Cronos Group in the fourth quarter worth approximately $81,000. Finally, CIBC Asset Management Inc boosted its stake in Cronos Group by 1.7% in the third quarter. CIBC Asset Management Inc now owns 100,084 shares of the company’s stock worth $904,000 after buying an additional 1,642 shares in the last quarter. 11.46% of the stock is owned by institutional investors.
Shares of CRON stock opened at $6.87 on Friday. Cronos Group Inc has a fifty-two week low of $6.04 and a fifty-two week high of $24.37. The stock has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $8.95. The company has a market capitalization of $2.38 billion, a P/E ratio of 7.90 and a beta of 3.22.
Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Cronos Group had a return on equity of 31.88% and a net margin of 4,086.41%. The firm had revenue of $10.10 million during the quarter, compared to the consensus estimate of $10.42 million. On average, equities analysts forecast that Cronos Group Inc will post -0.12 EPS for the current year.
Several analysts have issued reports on the company. Zacks Investment Research lowered Cronos Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James set a $12.00 target price on Cronos Group and gave the stock an “outperform” rating in a research note on Saturday, December 21st. BidaskClub lowered Cronos Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 4th. Stifel Nicolaus raised Cronos Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $16.50 to $14.00 in a research note on Friday, October 18th. Finally, CIBC reaffirmed a “buy” rating and issued a $17.00 target price on shares of Cronos Group in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Cronos Group presently has an average rating of “Hold” and an average target price of $16.54.
Cronos Group Profile
Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations MMPR. The firm typically invests in companies based in Canada.
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