AdvisorShares Investments LLC Increases Holdings in SNDL Inc. $SNDL

AdvisorShares Investments LLC lifted its position in shares of SNDL Inc. (NASDAQ:SNDL) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,637,388 shares of the company’s stock after buying an additional 344,896 shares during the period. AdvisorShares Investments LLC’s holdings in SNDL were worth $6,038,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNDL. Arrowstreet Capital Limited Partnership raised its holdings in shares of SNDL by 718.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,622,786 shares of the company’s stock valued at $12,325,000 after buying an additional 4,057,790 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of SNDL in the 3rd quarter valued at $5,039,000. Lazard Asset Management LLC purchased a new stake in shares of SNDL in the 3rd quarter valued at $2,130,000. Man Group plc boosted its stake in shares of SNDL by 1,126.4% in the 3rd quarter. Man Group plc now owns 463,588 shares of the company’s stock valued at $1,242,000 after purchasing an additional 425,788 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in shares of SNDL by 3,112.3% in the 3rd quarter. WINTON GROUP Ltd now owns 354,508 shares of the company’s stock valued at $950,000 after purchasing an additional 343,472 shares in the last quarter.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of SNDL from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $5.00.

SNDL Price Performance

Shares of SNDL stock opened at $1.48 on Friday. The firm has a market cap of $380.95 million, a P/E ratio of -49.33 and a beta of 0.88. SNDL Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $2.89. The business’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.25 and a current ratio of 4.84.

SNDL (NASDAQ:SNDL) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $183.87 million for the quarter, compared to analyst estimates of $257.97 million. SNDL had a negative return on equity of 1.02% and a negative net margin of 1.19%. On average, equities research analysts anticipate that SNDL Inc. will post -0.01 earnings per share for the current year.

SNDL Profile

SNDL Inc, formerly known as Sundial Growers Inc, is a Canada-based consumer packaged goods company focused on the production, manufacturing and distribution of cannabis products. Headquartered in Calgary, Alberta, SNDL operates multiple cultivation and processing facilities across Canada, including indoor and hybrid greenhouses in British Columbia and Ontario. The company serves both adult-use and medical cannabis markets, supplying provincial distributors as well as operating through its own wholesale and retail networks.

The company’s product portfolio spans dried flower, pre-rolls, vape cartridges, cannabis oils, edibles and infused beverages under a variety of in-house brands.