Insider Buying: Eastside Distilling Inc (EAST) Major Shareholder Acquires 15,000 Shares of Stock
Eastside Distilling Inc (NASDAQ:EAST) major shareholder Glenbrook Capital Lp acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were acquired at an average cost of $6.21 per share, with a total value of $93,150.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Eastside Distilling stock opened at $6.05 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 9.78 and a quick ratio of 3.65. Eastside Distilling Inc has a 52-week low of $3.53 and a 52-week high of $9.25.
Eastside Distilling (NASDAQ:EAST) last posted its earnings results on Wednesday, November 14th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.32). The firm had revenue of $1.49 million for the quarter, compared to analyst estimates of $1.54 million. Eastside Distilling had a negative net margin of 138.88% and a negative return on equity of 109.77%. Equities analysts forecast that Eastside Distilling Inc will post -1.34 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. Royce & Associates LP acquired a new position in shares of Eastside Distilling during the 2nd quarter worth approximately $144,000. Manatuck Hill Partners LLC boosted its holdings in shares of Eastside Distilling by 105.8% during the 2nd quarter. Manatuck Hill Partners LLC now owns 247,000 shares of the company’s stock worth $2,100,000 after purchasing an additional 127,000 shares during the last quarter. Ashford Capital Management Inc. acquired a new position in shares of Eastside Distilling during the 2nd quarter worth approximately $425,000. Skylands Capital LLC boosted its holdings in shares of Eastside Distilling by 12.1% during the 3rd quarter. Skylands Capital LLC now owns 80,989 shares of the company’s stock worth $664,000 after purchasing an additional 8,765 shares during the last quarter. Finally, Orca Investment Management LLC boosted its holdings in shares of Eastside Distilling by 118.8% during the 3rd quarter. Orca Investment Management LLC now owns 465,518 shares of the company’s stock worth $3,817,000 after purchasing an additional 252,775 shares during the last quarter. 17.13% of the stock is owned by hedge funds and other institutional investors.
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About Eastside Distilling
Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.
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