Advisory Services Network LLC Has $927,000 Holdings in Canopy Growth Corp (NYSE:CGC)

Advisory Services Network LLC lessened its holdings in Canopy Growth Corp (NYSE:CGC) by 23.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 21,364 shares of the marijuana producer’s stock after selling 6,384 shares during the quarter. Advisory Services Network LLC’s holdings in Canopy Growth were worth $927,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of Canopy Growth during the first quarter valued at about $25,000. Ellis Investment Partners LLC purchased a new position in shares of Canopy Growth during the first quarter valued at about $25,000. Next Capital Management LLC purchased a new position in shares of Canopy Growth during the fourth quarter valued at about $27,000. Global Retirement Partners LLC grew its position in shares of Canopy Growth by 524.0% during the first quarter. Global Retirement Partners LLC now owns 624 shares of the marijuana producer’s stock valued at $27,000 after purchasing an additional 524 shares in the last quarter. Finally, Private Capital Group LLC grew its position in shares of Canopy Growth by 221.5% during the first quarter. Private Capital Group LLC now owns 643 shares of the marijuana producer’s stock valued at $28,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 8.05% of the company’s stock.

A number of research analysts have recently weighed in on CGC shares. Zacks Investment Research lowered Canopy Growth from a “hold” rating to a “sell” rating in a research report on Tuesday, June 11th. TheStreet upgraded Canopy Growth from a “d+” rating to a “c” rating in a research

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