Lakeview Capital Partners LLC Purchases Shares of 5,115 Canopy Growth Corp (CGC)

Lakeview Capital Partners LLC purchased a new stake in Canopy Growth Corp (NYSE:CGC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,115 shares of the marijuana producer’s stock, valued at approximately $222,000.

Several other institutional investors have also made changes to their positions in the company. Tradewinds Capital Management LLC lifted its stake in shares of Canopy Growth by 36.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 847 shares of the marijuana producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Focused Wealth Management Inc lifted its stake in Canopy Growth by 16.3% during the 4th quarter. Focused Wealth Management Inc now owns 2,462 shares of the marijuana producer’s stock worth $66,000 after acquiring an additional 345 shares in the last quarter. First Manhattan Co. lifted its stake in Canopy Growth by 13.6% during the 4th quarter. First Manhattan Co. now owns 3,140 shares of the marijuana producer’s stock worth $84,000 after acquiring an additional 375 shares in the last quarter. IPG Investment Advisors LLC lifted its stake in Canopy Growth by 5.6% during the 4th quarter. IPG Investment Advisors LLC now owns 7,472 shares of the marijuana producer’s stock worth $210,000 after acquiring an additional 395 shares in the last quarter. Finally, Hudock Capital Group LLC lifted its stake in Canopy Growth by 99.5% during the 1st quarter. Hudock Capital Group LLC now owns 868 shares of the marijuana producer’s stock worth $37,000 after acquiring an additional 433 shares in the last quarter. 7.82% of the stock is currently owned by institutional investors and hedge funds.

CGC stock traded down $0.14 during mid-day trading on Friday, reaching $44.42. The company had a trading volume of 2,226,378 shares, compared to its average volume of 7,957,951. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12. The firm has a market capitalization of $15.29 billion, a P/E ratio of -138.81 and a beta of 4.17. Canopy Growth Corp has a fifty-two week low of $24.21 and a fifty-two week high of $59.25.

Several research firms recently issued reports on CGC. Bank of America began coverage on Canopy Growth in a research note on Wednesday, April 17th. They set a “buy” rating on the stock. GMP Securities raised Canopy Growth from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $72.00 in a research note on Monday, April 22nd. Zacks Investment Research raised Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. TheStreet raised Canopy Growth from a “d+” rating to a “c” rating in a research note on Friday, March 1st. Finally, Piper Jaffray Companies set a $60.00 target price on Canopy Growth and gave the stock a “buy” rating in a research note on Friday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.85.

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Canopy Growth Company 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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Institutional Ownership by Quarter for Canopy Growth (NYSE:CGC)

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