AdvisorShares Investments LLC Sells 1,500 Shares of Turning Point Brands, Inc. $TPB

AdvisorShares Investments LLC decreased its position in Turning Point Brands, Inc. (NYSE:TPB) by 31.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,249 shares of the company’s stock after selling 1,500 shares during the period. AdvisorShares Investments LLC’s holdings in Turning Point Brands were worth $246,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Y Intercept Hong Kong Ltd raised its position in Turning Point Brands by 451.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 30,126 shares of the company’s stock worth $2,283,000 after buying an additional 24,665 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in Turning Point Brands in the 2nd quarter worth about $31,000. Sentry Investment Management LLC purchased a new position in Turning Point Brands in the 2nd quarter worth about $329,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Turning Point Brands in the 2nd quarter worth about $235,000. Finally, Ritholtz Wealth Management raised its position in Turning Point Brands by 52.8% in the 2nd quarter. Ritholtz Wealth Management now owns 23,579 shares of the company’s stock worth $1,787,000 after buying an additional 8,151 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TPB shares. Needham & Company LLC started coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a “hold” rating for the company. Zacks Research downgraded Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Oppenheimer boosted their price target on Turning Point Brands from $85.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Turning Point Brands in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Turning Point Brands currently has a consensus rating of “Moderate Buy” and an average target price of $78.83.

Turning Point Brands Trading Up 1.8%

Turning Point Brands stock opened at $89.76 on Friday. The business has a 50-day simple moving average of $95.26 and a two-hundred day simple moving average of $82.27. The company has a market cap of $1.62 billion, a P/E ratio of 37.56 and a beta of 0.74. Turning Point Brands, Inc. has a 52-week low of $46.35 and a 52-week high of $104.76. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.19. The company had revenue of $116.63 million during the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The firm’s revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. Analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 19th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, September 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. Turning Point Brands’s payout ratio is 12.55%.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.