Turning Point Brands, Inc. (TPB) Major Shareholder General L.P. Standard Acquires 100,000 Shares
Turning Point Brands, Inc. (NYSE:TPB) major shareholder General L.P. Standard acquired 100,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $17.09 per share, with a total value of $1,709,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
General L.P. Standard also recently made the following trade(s):
- On Wednesday, August 16th, General L.P. Standard acquired 100,000 shares of Turning Point Brands stock. The stock was purchased at an average price of $16.52 per share, with a total value of $1,652,000.00.
Turning Point Brands, Inc. (NYSE TPB) traded down 1.94% during trading on Friday, reaching $16.72. The company’s stock had a trading volume of 79,670 shares. Turning Point Brands, Inc. has a 12 month low of $11.67 and a 12 month high of $18.05. The stock’s 50-day moving average is $16.29 and its 200 day moving average is $15.65. The company has a market cap of $318.16 million, a P/E ratio of 10.50 and a beta of 0.28.
Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, August 10th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $72.10 million for the quarter, compared to analyst estimates of $67.35 million. Turning Point Brands had a net margin of 13.62% and a return on equity of 114.77%. Turning Point Brands’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, equities analysts forecast that Turning Point Brands, Inc. will post $1.28 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of TPB. Acadian Asset Management LLC increased its stake in Turning Point Brands by 351.0% in the first quarter. Acadian Asset Management LLC now owns 6,530 shares of the company’s stock valued at $102,000 after purchasing an additional 5,082 shares in the last quarter. Bessemer Group Inc. bought a new stake in Turning Point Brands in the second quarter valued at $143,000. Teachers Advisors LLC increased its stake in Turning Point Brands by 25.6% in the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock valued at $157,000 after purchasing an additional 2,087 shares in the last quarter. Martingale Asset Management L P bought a new stake in Turning Point Brands in the second quarter valued at $280,000. Finally, potrero capital research llc bought a new stake in Turning Point Brands in the first quarter valued at $356,000. 15.85% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on TPB shares. Cowen and Company reiterated a “buy” rating and set a $19.00 target price on shares of Turning Point Brands in a report on Thursday, August 3rd. Zacks Investment Research cut Turning Point Brands from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th.
Turning Point Brands Company Profile
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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