Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 51.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,975 shares of the company's stock after selling 5,286 shares during the quarter. SG Americas Securities LLC's holdings in Turning Point Brands were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TPB. Copeland Capital Management LLC bought a new position in Turning Point Brands in the 3rd quarter worth about $61,000. USA Financial Formulas purchased a new position in Turning Point Brands in the 4th quarter worth approximately $73,000. The Manufacturers Life Insurance Company purchased a new position in Turning Point Brands in the 2nd quarter worth approximately $209,000. Aigen Investment Management LP purchased a new position in Turning Point Brands in the 3rd quarter worth approximately $221,000. Finally, Moran Wealth Management LLC purchased a new position in Turning Point Brands in the 3rd quarter worth approximately $236,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

NYSE:TPB traded up $0.11 during mid-day trading on Friday, hitting $67.27. 412,540 shares of the company traded hands, compared to its average volume of 193,221. The stock's fifty day moving average price is $59.98 and its 200-day moving average price is $49.66. Turning Point Brands, Inc. has a one year low of $21.98 and a one year high of $69.69. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 26.69 and a beta of 0.65.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.01. The firm had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Research analysts anticipate that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on TPB. Roth Mkm reaffirmed a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th. Oppenheimer assumed coverage on 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. Craig Hallum boosted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $68.75.

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.