XTX Topco Ltd Sells 7,707 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Key Points

• XTX Topco Ltd reduced its stake in Turning Point Brands by 40.2%, selling 7,707 shares and now owning 11,456 shares valued at approximately $681,000.
• Corporate insiders, including CAO Brian Wigginton and CEO Graham Purdy, have sold significant amounts of stock, with insiders selling 115,300 shares valued at $8.67 million over the last 90 days.
• Turning Point Brands reported a 28.2% increase in quarterly revenue year-over-year, totaling $106.44 million, with earnings per share of $0.91 surpassing analyst expectations by $0.16.

XTX Topco Ltd lowered its stake in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 40.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,456 shares of the company's stock after selling 7,707 shares during the quarter. XTX Topco Ltd owned about 0.06% of Turning Point Brands worth $681,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TPB. Northern Right Capital Management L.P. lifted its stake in Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after buying an additional 104,931 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Turning Point Brands by 122.3% in the first quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock valued at $7,240,000 after buying an additional 67,005 shares in the last quarter. Invesco Ltd. lifted its position in shares of Turning Point Brands by 205.8% in the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock worth $5,845,000 after purchasing an additional 65,457 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of Turning Point Brands in the fourth quarter worth $3,817,000. Finally, EAM Investors LLC lifted its position in shares of Turning Point Brands by 205.8% in the fourth quarter. EAM Investors LLC now owns 83,847 shares of the company's stock worth $5,039,000 after purchasing an additional 56,429 shares in the last quarter. Institutional investors own 96.12% of the company's stock.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 10,800 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.67, for a total value of $817,236.00. Following the transaction, the chief accounting officer directly owned 10,171 shares in the company, valued at $769,639.57. The trade was a 51.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Graham Purdy sold 30,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $75.03, for a total transaction of $2,250,900.00. Following the completion of the transaction, the chief executive officer owned 227,466 shares in the company, valued at approximately $17,066,773.98. This represents a 11.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,300 shares of company stock valued at $8,666,867. Corporate insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TPB. Oppenheimer boosted 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. Needham & Company LLC began coverage on shares of Turning Point Brands in a research report on Friday. They issued a "hold" rating on the stock. Finally, Wall Street Zen lowered shares of Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $76.67.

Turning Point Brands Price Performance

Shares of TPB opened at $81.76 on Tuesday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 35.86 and a beta of 0.66. Turning Point Brands, Inc. has a 1-year low of $34.78 and a 1-year high of $84.05. The company's fifty day simple moving average is $75.64 and its 200 day simple moving average is $67.49. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. The business had revenue of $106.44 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, research analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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

About Turning Point Brands

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.

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