ETF Managers Group LLC lifted its holdings in Canopy Growth Co. (NASDAQ:CGC – Get Rating) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,052,662 shares of the company’s stock after purchasing an additional 586,900 shares during the quarter. Canopy Growth accounts for approximately 1.1% of ETF Managers Group LLC’s investment portfolio, making the stock its 17th largest position. ETF Managers Group LLC’s holdings in Canopy Growth were worth $54,111,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers grew its holdings in shares of Canopy Growth by 9.3% in the third quarter. Cetera Investment Advisers now owns 10,043 shares of the company’s stock valued at $139,000 after purchasing an additional 854 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Canopy Growth by 19.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,722 shares of the company’s stock worth $67,000 after buying an additional 1,245 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Canopy Growth by 8.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 18,005 shares of the company’s stock worth $158,000 after buying an additional 1,360 shares during the period. Liberty Wealth Management LLC purchased a new position in Canopy Growth during the third quarter worth $29,000. Finally, Wells Fargo & Company MN boosted its stake in Canopy Growth by 7.6% during the second quarter. Wells Fargo & Company MN now owns 29,817 shares of the company’s stock worth $721,000 after buying an additional 2,107 shares during the period. 16.59% of the stock is owned by hedge funds and other institutional investors.
CGC traded up $0.52 on Thursday, hitting $5.55. The company had a trading volume of 6,028,419 shares, compared to its average volume of 7,296,115. The stock has a fifty day moving average price of $6.38 and a 200-day moving average price of $8.11. Canopy Growth Co. has a 12-month low of $4.70 and a 12-month high of $26.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 6.78 and a current ratio of 8.31. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -5.30 and a beta of 1.98.
Canopy Growth Profile (Get Rating)
Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.
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