Advisor Group Inc. Has $838,000 Position in Cronos Group Inc (NASDAQ:CRON)

Advisor Group Inc. boosted its stake in Cronos Group Inc (NASDAQ:CRON) by 37.1% during the 1st quarter, Holdings Channel reports. The fund owned 45,464 shares of the company’s stock after acquiring an additional 12,293 shares during the period. Advisor Group Inc.’s holdings in Cronos Group were worth $838,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRON. Signaturefd LLC lifted its holdings in shares of Cronos Group by 28.3% in the 1st quarter. Signaturefd LLC now owns 7,471 shares of the company’s stock worth $138,000 after purchasing an additional 1,646 shares in the last quarter. Manchester Capital Management LLC bought a new position in shares of Cronos Group in the 1st quarter worth $87,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Cronos Group by 27.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 60,537 shares of the company’s stock worth $1,112,000 after purchasing an additional 13,137 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Cronos Group by 129.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 121,787 shares of the company’s stock worth $2,245,000 after purchasing an additional 68,700 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of Cronos Group in the 1st quarter worth $187,000. Institutional investors and hedge funds own 8.33% of the company’s stock.

Shares of NASDAQ CRON opened at $15.44 on Friday. Cronos Group Inc has a 52 week low of $5.61 and a 52 week high of $25.10. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -193.00 and a beta of 3.81.

Cronos Group (NASDAQ:CRON) last issued its earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.38. Cronos Group had a return on equity of 99.44% and a net margin of 2,107.83%. The business had revenue of $6.47 million during the quarter, compared to the consensus estimate of $6.87 million. The company’s quarterly revenue was up 119.3% on a year-over-year basis. On average, equities analysts expect that Cronos Group Inc will post 0.03 earnings per share for the current year.

A number of brokerages recently issued reports on CRON. Zacks Investment Research upgraded Cronos Group from a “strong sell” rating to a “hold” rating in a report on Friday, May 10th. TheStreet raised Cronos Group from a “d+” rating to a “c+” rating in a research report on Tuesday, May 14th. Pi Financial reissued a “neutral” rating and issued a $24.00 price target on shares of Cronos Group in a research report on Tuesday, March 26th. Stifel Nicolaus initiated coverage on Cronos Group in a research report on Wednesday, June 5th. They set a “hold” rating for the company. Finally, Bank of America upgraded shares of Cronos Group from an “underperform” rating to a “buy” rating and raised their price target for the stock from $13.00 to $20.00 in a research note on Wednesday, June 5th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.13.

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About Cronos Group

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

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