Turning Point Brands Inc (NYSE:TPB) – Investment analysts at B. Riley issued their Q1 2018 earnings per share estimates for shares of Turning Point Brands in a report issued on Tuesday. B. Riley analyst S. Anderson forecasts that the company will post earnings per share of $0.28 for the quarter. B. Riley has a “Buy” rating and a $20.00 price objective on the stock. B. Riley also issued estimates for Turning Point Brands’ Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.39 EPS and Q4 2018 earnings at $0.22 EPS.
Separately, Zacks Investment Research lowered shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.
In other Turning Point Brands news, major shareholder General L.P. Standard acquired 150,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were acquired at an average price of $20.80 per share, with a total value of $3,120,000.00. Following the completion of the transaction, the insider now directly owns 2,500 shares in the company, valued at approximately $52,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Wells Dobbins sold 10,000 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the sale, the insider now directly owns 94,041 shares in the company, valued at approximately $1,969,218.54. The disclosure for this sale can be found here. Insiders own 14.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in TPB. Renaissance Technologies LLC lifted its position in shares of Turning Point Brands by 131.3% in the fourth quarter. Renaissance Technologies LLC now owns 182,300 shares of the company’s stock worth $3,852,000 after purchasing an additional 103,500 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Turning Point Brands by 99.2% during the fourth quarter. Bank of New York Mellon Corp now owns 84,588 shares of the company’s stock worth $1,787,000 after buying an additional 42,115 shares during the last quarter. Deutsche Bank AG increased its holdings in Turning Point Brands by 82.5% during the fourth quarter. Deutsche Bank AG now owns 73,862 shares of the company’s stock worth $1,560,000 after buying an additional 33,398 shares during the last quarter. Brigade Capital Management LP increased its holdings in Turning Point Brands by 10.5% during the fourth quarter. Brigade Capital Management LP now owns 321,573 shares of the company’s stock worth $6,795,000 after buying an additional 30,527 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Turning Point Brands by 30.2% during the third quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock worth $1,383,000 after buying an additional 18,866 shares during the last quarter. 16.01% of the stock is currently owned by institutional investors and hedge funds.
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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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