Turning Point Brands, Inc. $TPB Stock Position Increased by Jump Financial LLC

Key Points

• Jump Financial LLC increased its holdings in Turning Point Brands, Inc. by 52.5% in the first quarter, owning 28,211 shares valued at approximately $1.68 million.
• Analysts have shown a positive outlook for the stock, with Oppenheimer raising its price target to $98.00 and Zacks Research upgrading the stock to a "strong-buy" rating.
• Turning Point Brands reported strong quarterly earnings of $0.98 per share, beating estimates, with a year-over-year revenue increase of 25.1% to $116.63 million.

Jump Financial LLC boosted its stake in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 52.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,211 shares of the company's stock after purchasing an additional 9,711 shares during the period. Jump Financial LLC owned approximately 0.16% of Turning Point Brands worth $1,677,000 at the end of the most recent reporting period.

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

Turning Point Brands Stock Performance

TPB stock traded down $0.52 during mid-day trading on Monday, reaching $99.39. The company had a trading volume of 424,068 shares, compared to its average volume of 446,796. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $1.79 billion, a P/E ratio of 41.58 and a beta of 0.76. Turning Point Brands, Inc. has a one year low of $38.08 and a one year high of $102.90. The stock's 50-day simple moving average is $84.35 and its two-hundred day simple moving average is $72.22.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.79 by $0.19. The business had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The company's quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 19th. Turning Point Brands's dividend payout ratio is 12.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Oppenheimer increased their target price on Turning Point Brands from $85.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Needham & Company LLC initiated coverage on Turning Point Brands in a report on Friday, August 1st. They issued a "hold" rating for the company. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Turning Point Brands currently has a consensus rating of "Buy" and a consensus price target of $78.83.

Insiders Place Their Bets

In other Turning Point Brands news, CEO Graham Purdy sold 30,000 shares of Turning Point Brands stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $75.03, for a total transaction of $2,250,900.00. Following the sale, the chief executive officer owned 227,466 shares of the company's stock, valued at $17,066,773.98. The trade was a 11.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brittani Cushman sold 7,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total value of $557,700.00. Following the completion of the transaction, the senior vice president directly owned 34,687 shares of the company's stock, valued at approximately $2,579,325.32. The trade was a 17.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,300 shares of company stock worth $8,291,282. 6.60% of the stock is owned by company insiders.

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.