SeaCrest Wealth Management LLC lessened its stake in shares of Cronos Group Inc (NASDAQ:CRON) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,877 shares of the company’s stock after selling 1,278 shares during the period. SeaCrest Wealth Management LLC’s holdings in Cronos Group were worth $162,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of CRON. ETF Managers Group LLC bought a new position in Cronos Group in the second quarter worth approximately $95,437,000. Vanguard Group Inc. raised its stake in Cronos Group by 77.7% in the second quarter. Vanguard Group Inc. now owns 9,068,103 shares of the company’s stock worth $144,910,000 after buying an additional 3,966,024 shares in the last quarter. Janus Henderson Group PLC raised its stake in Cronos Group by 4,474.9% in the second quarter. Janus Henderson Group PLC now owns 800,600 shares of the company’s stock worth $12,871,000 after buying an additional 783,100 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in Cronos Group by 198.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 335,400 shares of the company’s stock worth $5,360,000 after buying an additional 675,200 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Cronos Group by 552.4% in the second quarter. Bank of America Corp DE now owns 408,490 shares of the company’s stock worth $6,527,000 after buying an additional 345,881 shares in the last quarter. 11.45% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on CRON shares. Zacks Investment Research raised shares of Cronos Group from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, October 8th. Piper Jaffray Companies initiated coverage on shares of Cronos Group in a report on Monday, August 12th. They issued an “overweight” rating and a $18.00 price target on the stock. Canaccord Genuity raised shares of Cronos Group from a “sell” rating to a “hold” rating and lifted their price target for the stock from $16.00 to $17.00 in a report on Friday, August 9th. Consumer Edge initiated coverage on shares of Cronos Group in a report on Friday, June 28th. They issued an “equal weight” rating on the stock. Finally, ValuEngine raised shares of Cronos Group from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.38.
Cronos Group (NASDAQ:CRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $10.80 million for 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%. The firm’s revenue for the quarter was up 217.6% compared to the same quarter last year. On average, analysts predict that Cronos Group Inc will post -0.08 EPS for the current fiscal 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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