Foundry Partners LLC Purchases 19,735 Shares of Turning Point Brands, Inc. (NYSE:TPB)

Foundry Partners LLC grew its stake in Turning Point Brands, Inc. (NYSE:TPBFree Report) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,475 shares of the company’s stock after acquiring an additional 19,735 shares during the period. Foundry Partners LLC’s holdings in Turning Point Brands were worth $4,375,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Turning Point Brands by 183.3% during the third quarter. Assenagon Asset Management S.A. now owns 198,823 shares of the company’s stock valued at $4,591,000 after purchasing an additional 128,645 shares in the last quarter. Boothbay Fund Management LLC boosted its stake in shares of Turning Point Brands by 2.4% during the second quarter. Boothbay Fund Management LLC now owns 208,382 shares of the company’s stock valued at $5,003,000 after purchasing an additional 4,896 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Turning Point Brands during the third quarter valued at approximately $204,000. Hsbc Holdings PLC boosted its stake in shares of Turning Point Brands by 104.6% during the second quarter. Hsbc Holdings PLC now owns 37,852 shares of the company’s stock valued at $910,000 after purchasing an additional 19,354 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in shares of Turning Point Brands by 14.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 9,921 shares of the company’s stock valued at $229,000 after purchasing an additional 1,279 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th.

Get Our Latest Stock Report on TPB

Turning Point Brands Trading Up 3.0 %

Shares of Turning Point Brands stock opened at $23.47 on Tuesday. The company has a debt-to-equity ratio of 2.26, a current ratio of 2.85 and a quick ratio of 1.50. The firm has a fifty day moving average price of $24.92 and a 200 day moving average price of $23.82. Turning Point Brands, Inc. has a 1 year low of $19.67 and a 1 year high of $26.69. The stock has a market cap of $413.07 million, a PE ratio of 39.78 and a beta of 0.48.

Insider Buying and Selling

In related news, Director Stephen Usher sold 1,700 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $24.12, for a total transaction of $41,004.00. Following the completion of the transaction, the director now owns 4,491 shares of the company’s stock, valued at $108,322.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Turning Point Brands Company Profile

(Free Report)

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes adult consumer products. It operates through Zig-Zag Products, Stoker's Products, and NewGen Products segments. 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.

Read More

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Institutional Ownership by Quarter for Turning Point Brands (NYSE:TPB)

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