Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Cronos Group Inc (NASDAQ:CRON) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 47,400 shares of the company’s stock, valued at approximately $499,000.
Other large investors also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Cronos Group in the 4th quarter worth approximately $779,000. Gables Capital Management Inc. purchased a new position in Cronos Group in the 4th quarter worth approximately $31,000. Morgan Stanley lifted its holdings in Cronos Group by 10.1% in the 3rd quarter. Morgan Stanley now owns 833,337 shares of the company’s stock worth $9,266,000 after purchasing an additional 76,151 shares in the last quarter. First Command Bank purchased a new position in Cronos Group in the 4th quarter worth approximately $28,000. Finally, Private Advisor Group LLC purchased a new position in Cronos Group in the 3rd quarter worth approximately $206,000. Institutional investors own 14.13% of the company’s stock.
A number of research analysts recently commented on CRON shares. GMP Securities cut Cronos Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Jefferies Financial Group started coverage on Cronos Group in a report on Monday, February 25th. They issued an “underperform” rating on the stock. Zacks Investment Research raised Cronos Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 11th. BMO Capital Markets cut Cronos Group from a “market perform” rating to an “underperform” rating and set a $21.43 price target on the stock. in a report on Monday, March 11th. They noted that the move was a valuation call. Finally, CIBC started coverage on Cronos Group in a report on Friday, January 18th. They issued a “sector outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.05.
Shares of CRON opened at $21.48 on Wednesday. Cronos Group Inc has a 1 year low of $5.12 and a 1 year high of $25.10.
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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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