Ashford Capital Management Inc. acquired a new stake in Eastside Distilling Inc (NASDAQ:EAST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company’s stock, valued at approximately $425,000.
Separately, Royce & Associates LP purchased a new position in shares of Eastside Distilling in the second quarter valued at approximately $144,000. Institutional investors and hedge funds own 11.50% of the company’s stock.
In other news, major shareholder Glenbrook Capital Lp purchased 29,936 shares of the firm’s stock in a transaction that occurred on Thursday, June 21st. The stock was bought at an average price of $7.70 per share, for a total transaction of $230,507.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Grover T. Wickersham sold 50,000 shares of Eastside Distilling stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $7.75, for a total transaction of $387,500.00. The disclosure for this sale can be found here. 20.80% of the stock is owned by insiders.
Shares of Eastside Distilling stock opened at $7.70 on Tuesday. Eastside Distilling Inc has a 52-week low of $3.53 and a 52-week high of $9.25. The company has a quick ratio of 2.40, a current ratio of 7.69 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $49.71 million, a P/E ratio of -5.42 and a beta of 0.36.
Eastside Distilling (NASDAQ:EAST) last issued its quarterly earnings results on Monday, August 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.07). Eastside Distilling had a negative return on equity of 118.61% and a negative net margin of 130.79%. The firm had revenue of $1.52 million during the quarter, compared to analysts’ expectations of $1.43 million. equities research analysts anticipate that Eastside Distilling Inc will post -1.24 EPS for the current fiscal year.
Separately, ValuEngine upgraded shares of Eastside Distilling from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th.
Eastside Distilling Profile
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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