First Wilshire Securities Management Inc. Takes Position in Eastside Distilling Inc (NASDAQ:EAST)

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First Wilshire Securities Management Inc. purchased a new stake in shares of Eastside Distilling Inc (NASDAQ:EAST) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors also recently bought and sold shares of EAST. ARS Investment Partners LLC grew its holdings in shares of Eastside Distilling by 36.5% during the 1st quarter. ARS Investment Partners LLC now owns 386,002 shares of the company’s stock valued at $2,243,000 after acquiring an additional 103,179 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Eastside Distilling by 19.9% during the 1st quarter. Royce & Associates LP now owns 42,150 shares of the company’s stock valued at $245,000 after acquiring an additional 7,000 shares in the last quarter. Connors Investor Services Inc. grew its holdings in shares of Eastside Distilling by 27.0% during the 1st quarter. Connors Investor Services Inc. now owns 56,536 shares of the company’s stock valued at $328,000 after acquiring an additional 12,034 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Eastside Distilling by 27.4% during the 2nd quarter. BlackRock Inc. now owns 22,344 shares of the company’s stock valued at $101,000 after acquiring an additional 4,810 shares in the last quarter. Institutional investors and hedge funds own 33.57% of the company’s stock.

Eastside Distilling stock opened at $4.96 on Friday. The company’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $5.03. The company has a quick ratio of 1.10, a current ratio of 4.67 and a debt-to-equity ratio of 0.23. Eastside Distilling Inc has a 12 month low of $3.32 and a 12 month high of $8.74. The stock has a market cap of $45.43 million, a P/E ratio of -3.33 and a beta of 0.44.

Eastside Distilling (NASDAQ:EAST) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.12). Eastside Distilling had a negative net margin of 108.78% and a negative return on equity of 72.28%. The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $4.26 million. On average, equities research analysts expect that Eastside Distilling Inc will post -1.08 earnings per share for the current fiscal year.

Separately, ValuEngine cut shares of Eastside Distilling from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.

About Eastside Distilling

Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.

Further Reading: What does an equal weight rating mean?

Want to see what other hedge funds are holding EAST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastside Distilling Inc (NASDAQ:EAST).

Institutional Ownership by Quarter for Eastside Distilling (NASDAQ:EAST)

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