An Analysis of Turning Point Brands Inc. (TPB)’s Potential Price Growth


Turning Point Brands Inc.’s filing revealed that its Executive Chairman Glazek David Edward acquired Company’s shares for reported $0.1 million on May 15. In the deal valued at $20.92 per share,5,000 shares were bought. As a result of this transaction, Glazek David Edward now holds 68,973 shares worth roughly $ 1.7 million.

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Then, Purdy Graham bought 1,000 shares, generating $20,781 in total proceeds. Upon buying the shares at $20.78, the President and CEO now owns 174,812 shares.

The Benchmark Company initiated its Turning Point Brands Inc. [TPB] rating to a Buy in a research note published on Friday, June 06, 2023; the price target was $28. PT values the company’s stock at a premium of 11.75 to its Friday closing price.

Price Performance Review of TPB

On Friday, Turning Point Brands Inc. [NYSE:TPB] saw its stock jump 0.37% to $24.71. On the same session, the stock had its day’s lowest price of $24.55, but rose to a high of $25.01. Over the last five days, the stock has gained 0.86%. Turning Point Brands Inc. shares have risen nearly 14.24% since the year began. Nevertheless, the stocks have risen 5.96% over the past one year. While a 52-week high of $26.31 was reached on 08/03/23, a 52-week low of $18.81 was recorded on 03/24/23. SMA at 50 days reached $24.49, while 200 days put it at $22.56. A total of 63061.0 shares were traded, compared to the trading of 87600.0 shares in the previous session.

Levels Of Support And Resistance For TPB Stock

The 24-hour chart illustrates a support level at 24.50, which if violated will result in even more drops to 24.30. On the upside, there is a resistance level at 24.96. A further resistance level may holdings at 25.22. The Relative Strength Index (RSI) on the 14-day chart is 50.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.33%. Stochastics %K at 41.09% indicates the stock is a holding.

How much short interest is there in Turning Point Brands Inc.?

A steep rise in short interest was recorded in Turning Point Brands Inc. stocks on Aug 14, 2023, dropping by 8250.0 shares to a total of 0.26 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.27 million shares. There was a decline of -3.18%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.53% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.24.

Turning Point Brands Inc. [TPB] – Who Are The Largest Shareholders?

In filings from Thrivent Asset Management LLC, it is revealed that the company now owns 1,908,669 shares, or roughly 10.85% of the outstanding TPB shares. In other words, the investor’s shares have risen by 61,265 from its previous 13-F filing of 1847404.0. Additionally, ArrowMark Colorado Holdings LLC decreased -2.29% of its stake after which the total value it holdings stand at $29,752,493, while The Vanguard Group, Inc. reduced -0.33% of its stake to hold $28.98 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 79,794 shares of Turning Point Brands Inc., while Mangrove Partners bought 0 shares. At present, American Century Investment Manag is holding 835,393 shares valued at $19.92 million. Dimensional Fund Advisors LP owned 478,774 shares of the company at the time of its most recent 13F filing, worth $11.42 million.

According to FactSet, Turning Point Brands Inc.’s share price will average $38.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 42.16 percent from its previous closing price of $24.62. Analysts expect Turning Point Brands Inc. stock to reach the higher price of $45.00, while the lowest price estimate is $34.00. However, 3 analysts have rated TPB stock as a Buy in their predictions for 2023.


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