4,620 Shares in Turning Point Brands, Inc. (NYSE:TPB) Purchased by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in shares of Turning Point Brands, Inc. (NYSE:TPB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,620 shares of the company’s stock, valued at approximately $278,000.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in Turning Point Brands during the fourth quarter worth about $73,000. Copeland Capital Management LLC purchased a new position in Turning Point Brands during the third quarter worth about $61,000. Entropy Technologies LP purchased a new position in Turning Point Brands during the fourth quarter worth about $234,000. Aigen Investment Management LP purchased a new position in Turning Point Brands during the third quarter worth about $221,000. Finally, Moran Wealth Management LLC acquired a new stake in Turning Point Brands during the third quarter worth about $236,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

TPB stock opened at $69.73 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21. Turning Point Brands, Inc. has a 1 year low of $22.47 and a 1 year high of $70.57. The firm has a market cap of $1.23 billion, a P/E ratio of 27.67 and a beta of 0.65. The stock has a 50-day simple moving average of $60.54 and a 200-day simple moving average of $50.54.

Analyst Ratings Changes

TPB has been the subject of several research analyst reports. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Craig Hallum upped their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. One equities 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, Turning Point Brands presently has a consensus rating of “Buy” and a consensus price target 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.