Marathon Trading Investment Management LLC Takes $276,000 Position in Canopy Growth Corporation (NASDAQ:CGC)

Marathon Trading Investment Management LLC purchased a new stake in shares of Canopy Growth Corporation (NASDAQ:CGC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 303,500 shares of the company’s stock, valued at approximately $276,000. Marathon Trading Investment Management LLC owned 0.17% of Canopy Growth as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new stake in shares of Canopy Growth during the fourth quarter valued at about $41,000. TD Asset Management Inc increased its position in shares of Canopy Growth by 47.3% in the first quarter. TD Asset Management Inc now owns 112,721 shares of the company’s stock worth $104,000 after purchasing an additional 36,211 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Canopy Growth by 56.5% in the first quarter. Mackenzie Financial Corp now owns 50,413 shares of the company’s stock worth $47,000 after purchasing an additional 18,202 shares during the last quarter. Tidal Investments LLC increased its position in shares of Canopy Growth by 12.5% in the fourth quarter. Tidal Investments LLC now owns 2,263,873 shares of the company’s stock worth $6,203,000 after purchasing an additional 251,659 shares during the last quarter. Finally, Centiva Capital LP increased its position in shares of Canopy Growth by 133.1% in the fourth quarter. Centiva Capital LP now owns 124,155 shares of the company’s stock worth $340,000 after purchasing an additional 70,884 shares during the last quarter. 3.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler restated an “underweight” rating on shares of Canopy Growth in a research report on Friday, May 30th.

Canopy Growth Stock Down 9.1%

CGC stock opened at $1.49 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.10 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $1.25 and its 200 day moving average is $1.35. The stock has a market cap of $305.67 million, a price-to-earnings ratio of -0.49 and a beta of 0.67. Canopy Growth Corporation has a 1-year low of $0.77 and a 1-year high of $7.21.

Canopy Growth (NASDAQ:CGC) last issued its earnings results on Friday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $52.98 million during the quarter, compared to analyst estimates of $64.98 million. Canopy Growth had a negative return on equity of 89.93% and a negative net margin of 155.76%. Sell-side analysts predict that Canopy Growth Corporation will post -2.81 EPS for the current fiscal year.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.