Turning Point Brands, Inc. (NYSE:TPB) Shares Sold by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP reduced its stake in Turning Point Brands by 20.9%, selling 6,265 shares and now owning 23,775 shares valued at $1.41 million.
• Recent insider activity includes Director Stephen Usher and CAO Brian Wigginton selling shares, representing significant decreases in their stock positions.
• Turning Point Brands reported quarterly earnings of $0.91 EPS, exceeding analyst expectations, alongside a recently announced dividend yielding 0.38% annually.

GSA Capital Partners LLP decreased its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,775 shares of the company's stock after selling 6,265 shares during the period. GSA Capital Partners LLP owned 0.13% of Turning Point Brands worth $1,413,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Virtus Fund Advisers LLC purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $48,000. Sunbelt Securities Inc. purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $96,000. Tower Research Capital LLC TRC grew its stake in shares of Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $201,000. Finally, Prescott General Partners LLC purchased a new position in shares of Turning Point Brands during the 4th quarter worth approximately $210,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Insider Activity at Turning Point Brands

In other news, SVP Brittani Cushman sold 7,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $74.36, for a total value of $557,700.00. Following the sale, the senior vice president directly owned 34,687 shares in the company, valued at approximately $2,579,325.32. This trade represents a 17.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Wexler sold 25,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the completion of the sale, the director owned 330,186 shares in the company, valued at $25,074,324.84. The trade was a 7.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,300 shares of company stock worth $8,666,867 over the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Turning Point Brands in a research report on Friday. They set a "hold" rating for the company. Wall Street Zen cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Oppenheimer increased their price objective on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.67.

Turning Point Brands Stock Down 2.4%

Turning Point Brands stock traded down $1.98 during mid-day trading on Friday, reaching $80.96. 495,470 shares of the company's stock were exchanged, compared to its average volume of 357,837. The company has a market cap of $1.45 billion, a P/E ratio of 35.51 and a beta of 0.66. Turning Point Brands, Inc. has a twelve month low of $34.78 and a twelve month high of $84.05. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The company has a fifty day moving average of $75.64 and a 200-day moving average of $67.34.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. The company had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The firm's quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Sell-side analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands's dividend payout ratio is 13.16%.

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.