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Lawrence Wexler, a director at Turning Point Brands, Inc. (NYSE:TPB), recently sold 15,000 shares of the company’s common stock. The company has shown remarkable performance with a 132% return over the past year, trading near its 52-week high of $81.05. The shares were sold at a weighted average price of $74.61, with the transaction totaling approximately $1.12 million.
Following this sale, Wexler retains ownership of 355,186 shares, which includes 3,352 restricted stock units and 351,834 shares of common stock. The transaction was part of a routine filing with the Securities and Exchange Commission, reflecting Wexler’s direct ownership in the company.
In other recent news, Turning Point Brands reported impressive financial results for the first quarter of 2025, surpassing both earnings and revenue forecasts. The company achieved an earnings per share of $0.91, exceeding the expected $0.71, and reported revenue of $106.4 million, beating the forecast of $92.53 million. This strong performance was driven by a significant increase in Modern Oral sales and a 28% year-over-year revenue growth. Additionally, the company’s adjusted EBITDA rose by 12% compared to the previous year. In other developments, Turning Point Brands held its Annual Meeting of Stockholders, where all nominated directors were elected, and key proposals, including an amendment to limit officer liability, were approved. The company also ratified KPMG LLP as its independent accountant for 2025. These recent developments reflect the company’s robust operational performance and strategic initiatives.
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