SG Americas Securities LLC Has $299,000 Position in Turning Point Brands, Inc. (NYSE:TPB)

SG Americas Securities LLC cut its stake in Turning Point Brands, Inc. (NYSE:TPB) by 51.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its position in Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after purchasing an additional 15,344 shares during the last quarter. Millennium Management LLC grew its stake in shares of Turning Point Brands by 14.1% in the 2nd quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after buying an additional 22,035 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new position in Turning Point Brands in the third quarter worth approximately $7,517,000. Charles Schwab Investment Management Inc. raised its position in Turning Point Brands by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock valued at $6,269,000 after acquiring an additional 2,442 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Turning Point Brands by 84.5% in the third quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock valued at $5,311,000 after acquiring an additional 56,364 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Trading Down 1.1 %

Shares of NYSE:TPB opened at $61.72 on Thursday. 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 50-day moving average is $59.75 and its 200-day moving average is $49.24. The company has a market cap of $1.09 billion, a P/E ratio of 24.49 and a beta of 0.65. Turning Point Brands, Inc. has a 52-week low of $21.98 and a 52-week high of $66.18.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. During the same quarter last year, the firm posted $0.69 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPB. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday. Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.