Creative Planning Has $172,000 Stake in Cronos Group Inc. (NASDAQ:CRON)

Creative Planning trimmed its holdings in shares of Cronos Group Inc. (NASDAQ:CRON) by 58.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,947 shares of the company’s stock after selling 27,686 shares during the period. Creative Planning’s holdings in Cronos Group were worth $172,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cronos Group by 205.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,639 shares of the company’s stock valued at $12,010,000 after purchasing an additional 854,262 shares in the last quarter. Morgan Stanley boosted its position in Cronos Group by 128.9% in the 1st quarter. Morgan Stanley now owns 1,252,895 shares of the company’s stock valued at $11,853,000 after buying an additional 705,640 shares during the last quarter. TD Asset Management Inc. boosted its position in Cronos Group by 23.9% in the 1st quarter. TD Asset Management Inc. now owns 1,193,301 shares of the company’s stock valued at $11,279,000 after buying an additional 230,077 shares during the last quarter. Penserra Capital Management LLC boosted its position in Cronos Group by 300.5% in the 1st quarter. Penserra Capital Management LLC now owns 685,093 shares of the company’s stock valued at $6,480,000 after buying an additional 514,033 shares during the last quarter. Finally, Swiss National Bank boosted its position in Cronos Group by 3.3% in the 1st quarter. Swiss National Bank now owns 449,900 shares of the company’s stock valued at $4,251,000 after buying an additional 14,400 shares during the last quarter. 13.91% of the stock is owned by hedge funds and other institutional investors.

CRON stock opened at $5.83 on Wednesday. The business’s 50-day moving average price is $6.93 and its two-hundred day moving average price is $8.08. The firm has a market cap of $2.18 billion, a PE ratio of -14.22 and a beta of 1.75. Cronos Group Inc. has a 1-year low of $4.91 and a 1-year high of $15.83.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 5th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.22. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $18.48 million. Cronos Group had a negative return on equity of 9.48% and a negative net margin of 258.59%. The company’s revenue for the quarter was up 57.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.31) earnings per share. On average, sell-side analysts expect that Cronos Group Inc. will post -0.37 earnings per share for the current year.

A number of research analysts have commented on CRON shares. Raymond James set a $11.00 price objective on Cronos Group and gave the company an “outperform” rating in a research report on Tuesday, August 24th. TheStreet lowered Cronos Group from a “c” rating to a “d+” rating in a research report on Tuesday, May 25th. Zacks Investment Research lowered Cronos Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 3rd. Finally, Canaccord Genuity reduced their price target on Cronos Group from C$7.50 to C$7.00 and set a “sell” rating on the stock in a research report on Monday, August 9th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.92.

About Cronos Group

Cronos Group, Inc engages in the production and distribution of cannabis. Its brands include PEACE NATURALS, COVE, Spinach, Lord Jones, and PEACE+. The company was founded by Lorne Michael Gertner and Paul Rosen on August 21, 2012 and is headquartered in Toronto, Canada.

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Institutional Ownership by Quarter for Cronos Group (NASDAQ:CRON)

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