Turning Point Brands Inc. (TPB) VP Sells $190,288.00 in Stock
Turning Point Brands Inc. (NYSE:TPB) VP James Michael Murray sold 13,592 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $14.00, for a total transaction of $190,288.00. Following the transaction, the vice president now directly owns 141 shares of the company’s stock, valued at approximately $1,974. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Turning Point Brands Inc. (NYSE:TPB) opened at 14.52 on Thursday. The company has a market cap of $266.31 million and a P/E ratio of 17.60. Turning Point Brands Inc. has a one year low of $6.46 and a one year high of $16.14. The company has a 50 day moving average of $13.33 and a 200-day moving average of $11.82.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 10th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $51 million for the quarter, compared to the consensus estimate of $50.75 million. Turning Point Brands’s revenue was down .8% on a year-over-year basis. On average, equities analysts expect that Turning Point Brands Inc. will post $1.25 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Standard General L.P. boosted its position in Turning Point Brands by 4.5% in the third quarter. Standard General L.P. now owns 10,175,463 shares of the company’s stock worth $122,309,000 after buying an additional 442,558 shares during the last quarter. Northern Trust Corp boosted its position in Turning Point Brands by 382.1% in the third quarter. Northern Trust Corp now owns 58,625 shares of the company’s stock worth $705,000 after buying an additional 46,465 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Turning Point Brands during the third quarter worth $124,000. Wells Fargo & Company MN boosted its position in Turning Point Brands by 6.0% in the third quarter. Wells Fargo & Company MN now owns 27,636 shares of the company’s stock worth $332,000 after buying an additional 1,561 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Turning Point Brands by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 39,915 shares of the company’s stock worth $480,000 after buying an additional 172 shares during the last quarter. 68.81% of the stock is owned by institutional investors.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 13th. FBR & Co reaffirmed a “buy” rating on shares of Turning Point Brands in a report on Tuesday, November 22nd.
About Turning Point Brands
Turning Point Brands, Inc, formerly North Atlantic Holding Company, Inc, is a provider of Other Tobacco Products (OTP) in the United States. The Company operates through three segments: smokeless products, smoking products and NewGen products. The Smokeless products market consists of approximately four product categories, which includes loose leaf chewing tobacco, Moist Snuff, Moist Snuff Pouches and Snus.
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