Turning Point Brands, Inc. (NYSE:TPB) major shareholder General L.P. Standard purchased 100,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average price of $17.09 per share, for a total transaction of $1,709,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
General L.P. Standard also recently made the following trade(s):
- On Wednesday, August 16th, General L.P. Standard purchased 100,000 shares of Turning Point Brands stock. The stock was acquired at an average price of $16.52 per share, for a total transaction of $1,652,000.00.
Turning Point Brands, Inc. (NYSE:TPB) opened at 16.72 on Friday. Turning Point Brands, Inc. has a 52 week low of $11.67 and a 52 week high of $18.05. The stock has a 50 day moving average price of $16.32 and a 200 day moving average price of $15.67. The company has a market cap of $318.16 million, a price-to-earnings ratio of 10.50 and a beta of 0.28.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $67.35 million. Turning Point Brands had a net margin of 13.62% and a return on equity of 114.77%. The business’s quarterly revenue was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, equities analysts forecast that Turning Point Brands, Inc. will post $1.28 earnings per share for the current year.
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Several equities analysts have recently issued reports on the company. Cowen and Company reiterated a “buy” rating and issued a $20.00 price target on shares of Turning Point Brands in a research note on Sunday. Zacks Investment Research lowered Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th.
Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of Turning Point Brands by 351.0% in the first quarter. Acadian Asset Management LLC now owns 6,530 shares of the company’s stock worth $102,000 after purchasing an additional 5,082 shares during the period. Bessemer Group Inc. bought a new position in shares of Turning Point Brands in the second quarter worth $143,000. Teachers Advisors LLC increased its holdings in shares of Turning Point Brands by 25.6% in the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock worth $157,000 after purchasing an additional 2,087 shares during the period. Martingale Asset Management L P bought a new position in shares of Turning Point Brands in the second quarter worth $280,000. Finally, potrero capital research llc bought a new position in shares of Turning Point Brands in the first quarter worth $356,000. 15.85% of the stock is currently owned by hedge funds and other institutional investors.
About Turning Point Brands
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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