In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Turning Point Brands Inc. (NYSE:TPB) reported that Standard General L.p. has picked up 10,975,463 of common stock as of 2017-06-05.
The acquisition brings the aggregate amount owned by Standard General L.p. to a total of 10,975,463 representing less than 58.2% stake in the company.
For those not familiar with the company, Turning Point Brands, Inc. is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products. The smoking products segment imports and markets cigarette papers, tubes and related products; processes, packages and markets make-your-own (MYO) cigarette tobaccos; imports and markets finished cigars and MYO cigar tobaccos and cigar wraps, and processes, packages and markets pipe tobaccos. The NewGen products segment markets e-cigarettes, e-liquids, vaporizers and other related products, and distributes a wide assortment of vaping products to non-traditional retail outlets via VaporBeast. The Company’s portfolio of brands includes Zig-Zag, Beech-Nut, Stoker’s, Trophy, and VaporBeast.
A glance at Turning Point Brands Inc. (NYSE:TPB)’s key stats reveals a current market capitalization of 307.75 Million based on 18.85 Million shares outstanding and a price at last close of $16.36 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-16, Hebard picked up 3,000 at a purchase price of $15.59. This brings their total holding to 3,000 as of the date of the filing.
On the sell side, the most recent transaction saw Standard unload 9,342,373 shares at a sale price of $16.01. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Turning Point Brands Inc. (NYSE:TPB) as things move forward to see if its progress aligns with these transactions.
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