AdvisorShares Investments LLC Has $341,000 Stock Holdings in Turning Point Brands, Inc. (NYSE:TPB)

AdvisorShares Investments LLC lowered its holdings in shares of Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 58.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,669 shares of the company's stock after selling 7,900 shares during the quarter. AdvisorShares Investments LLC's holdings in Turning Point Brands were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. USA Financial Formulas bought a new position in Turning Point Brands during the fourth quarter valued at about $73,000. Tower Research Capital LLC TRC raised 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 acquiring an additional 532 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Turning Point Brands in the 4th quarter worth approximately $212,000. Entropy Technologies LP bought a new stake in Turning Point Brands during the fourth quarter worth approximately $234,000. Finally, AlphaQuest LLC grew its holdings in Turning Point Brands by 56.4% during the fourth quarter. AlphaQuest LLC now owns 4,131 shares of the company's stock valued at $248,000 after purchasing an additional 1,490 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TPB shares. Roth Mkm reaffirmed a "buy" rating and set a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th. StockNews.com upgraded Turning Point Brands from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Finally, Alliance Global Partners started coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a "buy" rating and a $80.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $73.33.

Turning Point Brands Stock Performance

Shares of TPB traded up $1.13 during trading hours on Monday, reaching $64.81. 42,780 shares of the company traded hands, compared to its average volume of 159,797. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. The stock's fifty day moving average is $59.67 and its 200 day moving average is $59.18. Turning Point Brands, Inc. has a 1-year low of $30.61 and a 1-year high of $72.54. The stock has a market cap of $1.15 billion, a P/E ratio of 25.70 and a beta of 0.69.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were issued a $0.075 dividend. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.46%. Turning Point Brands's dividend payout ratio is 14.15%.

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.