SG Americas Securities LLC increased its stake in shares of Cronos Group Inc (NASDAQ:CRON) by 694.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 633,214 shares of the company’s stock after purchasing an additional 553,503 shares during the quarter. SG Americas Securities LLC owned 0.19% of Cronos Group worth $5,731,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Cronos Group in the first quarter valued at $459,000. Valeo Financial Advisors LLC increased its stake in Cronos Group by 6,305.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,562 shares of the company’s stock worth $41,000 after buying an additional 2,522 shares during the period. Exane Derivatives increased its stake in Cronos Group by 68.3% in the 2nd quarter. Exane Derivatives now owns 45,303 shares of the company’s stock worth $724,000 after buying an additional 18,379 shares during the period. NEXT Financial Group Inc increased its stake in Cronos Group by 2,096.7% in the 2nd quarter. NEXT Financial Group Inc now owns 5,360 shares of the company’s stock worth $86,000 after buying an additional 5,116 shares during the period. Finally, Meridian Wealth Management LLC increased its stake in Cronos Group by 64.7% in the 2nd quarter. Meridian Wealth Management LLC now owns 4,074 shares of the company’s stock worth $65,000 after buying an additional 1,600 shares during the period. 11.51% of the stock is owned by hedge funds and other institutional investors.
CRON has been the topic of several recent analyst reports. BMO Capital Markets raised shares of Cronos Group from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 5th. ValuEngine downgraded shares of Cronos Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Bank of America raised their target price on shares of Cronos Group from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 9th. MKM Partners initiated coverage on shares of Cronos Group in a research report on Thursday, September 19th. They set a “neutral” rating and a $14.00 target price on the stock. Finally, Piper Jaffray Companies cut their target price on shares of Cronos Group from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.71.
NASDAQ CRON traded up $0.59 during trading on Friday, reaching $8.52. 7,906,000 shares of the company’s stock traded hands, compared to its average volume of 8,241,891. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -106.50 and a beta of 3.40. The company’s 50 day simple moving average is $8.76 and its two-hundred day simple moving average is $12.99. Cronos Group Inc has a 12-month low of $7.40 and a 12-month high of $25.10.
Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $7.16 million. Cronos Group had a net margin of 2,521.25% and a return on equity of 60.20%. Cronos Group’s revenue for the quarter was up 217.6% on a year-over-year basis. As a group, analysts predict that Cronos Group Inc will post -0.08 earnings per share for the current year.
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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