Legato Capital Management LLC Purchases New Position in Turning Point Brands, Inc. (NYSE:TPB)

Legato Capital Management LLC purchased a new position in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,620 shares of the company's stock, valued at approximately $278,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock valued at $17,506,000 after acquiring an additional 15,344 shares in the last quarter. First Sabrepoint Capital Management LP bought a new stake in Turning Point Brands in the 3rd quarter valued at $7,517,000. Charles Schwab Investment Management Inc. lifted its position in Turning Point Brands by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company's stock valued at $6,269,000 after acquiring an additional 2,442 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Turning Point Brands by 84.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company's stock valued at $5,311,000 after acquiring an additional 56,364 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Turning Point Brands by 22.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 38,571 shares of the company's stock valued at $1,664,000 after acquiring an additional 7,170 shares in the last quarter. 96.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TPB has been the topic of several research reports. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Craig Hallum boosted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Oppenheimer started coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an "outperform" rating and a $65.00 price target on the stock. Roth Mkm reissued a "buy" rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Finally, Benchmark boosted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Turning Point Brands presently has a consensus rating of "Buy" and a consensus price target of $68.75.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock traded up $0.89 during trading on Tuesday, hitting $70.52. 47,112 shares of the stock were exchanged, compared to its average volume of 213,681. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 27.94 and a beta of 0.65. The company has a fifty day moving average price of $60.79 and a 200-day moving average price of $51.16. Turning Point Brands, Inc. has a 1-year low of $22.47 and a 1-year high of $70.99. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

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.