Williams Jones & Associates LLC Has $3.36 Million Holdings in Canopy Growth Corp (NYSE:CGC)

Williams Jones & Associates LLC cut its stake in Canopy Growth Corp (NYSE:CGC) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,505 shares of the marijuana producer’s stock after selling 1,220 shares during the period. Williams Jones & Associates LLC’s holdings in Canopy Growth were worth $3,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lehman & Derafelo Financial Resources LLC bought a new position in shares of Canopy Growth in the first quarter worth $295,000. TCG Advisors LP bought a new position in shares of Canopy Growth in the first quarter worth $28,000. Wealthcare Advisory Partners LLC boosted its stake in Canopy Growth by 15.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,906 shares of the marijuana producer’s stock valued at $83,000 after buying an additional 261 shares in the last quarter. Aspire Private Capital LLC boosted its stake in Canopy Growth by 59.9% during the first quarter. Aspire Private Capital LLC now owns 3,307 shares of the marijuana producer’s stock valued at $143,000 after buying an additional 1,239 shares in the last quarter. Finally, MYDA Advisors LLC bought a new position in Canopy Growth during the first quarter valued at about $1,301,000. 8.03% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on CGC. Zacks Investment Research raised Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Bank of America set a $80.00 target price on Canopy Growth and gave the company a “buy” rating in a research note on Friday, June 7th. Stifel Nicolaus began coverage on Canopy Growth in a research note on Wednesday, June 5th. They set a “buy” rating and a $40.83 target price for the company. Seaport Global Securities reaffirmed a “hold” rating on shares of Canopy Growth in a research note on Tuesday, April 2nd. Finally, Compass Point began coverage on Canopy Growth in a research note on Monday. They set a “neutral” rating and a $43.76 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Canopy Growth presently has an average rating of “Buy” and a consensus target price of $62.38.



Shares of NYSE CGC traded down $0.23 during mid-day trading on Wednesday, hitting $42.72. 1,699,657 shares of the company traded hands, compared to its average volume of 7,527,899. Canopy Growth Corp has a 1 year low of $24.21 and a 1 year high of $59.25. The company has a market cap of $14.53 billion, a price-to-earnings ratio of -133.48 and a beta of 4.13. The company has a quick ratio of 17.12, a current ratio of 17.85 and a debt-to-equity ratio of 0.10.

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Canopy Growth 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, CraftGrow, and Foria brand names.

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

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