Glenbrook Capital Lp Buys 10,454 Shares of Eastside Distilling Inc (EAST) Stock

Eastside Distilling Inc (NASDAQ:EAST) insider Glenbrook Capital Lp bought 10,454 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was bought at an average cost of $6.10 per share, with a total value of $63,769.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Glenbrook Capital Lp also recently made the following trade(s):

  • On Tuesday, November 20th, Glenbrook Capital Lp bought 15,000 shares of Eastside Distilling stock. The stock was bought at an average cost of $6.21 per share, with a total value of $93,150.00.

Shares of EAST traded up $0.02 during midday trading on Friday, reaching $6.17. The company had a trading volume of 17,201 shares, compared to its average volume of 78,998. Eastside Distilling Inc has a 1-year low of $3.53 and a 1-year high of $9.25. The company has a quick ratio of 3.65, a current ratio of 9.78 and a debt-to-equity ratio of 0.15.

Eastside Distilling (NASDAQ:EAST) last issued 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). Eastside Distilling had a negative return on equity of 109.77% and a negative net margin of 138.88%. The company had revenue of $1.49 million during the quarter, compared to analyst estimates of $1.54 million. As a group, research analysts predict that Eastside Distilling Inc will post -1.34 EPS for the current fiscal year.

Separately, ValuEngine raised Eastside Distilling from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc increased its stake in shares of Eastside Distilling by 160.3% in the 3rd quarter. Vanguard Group Inc now owns 69,666 shares of the company’s stock worth $571,000 after acquiring an additional 42,901 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Eastside Distilling by 160.3% during the 3rd quarter. Vanguard Group Inc. now owns 69,666 shares of the company’s stock worth $571,000 after purchasing an additional 42,901 shares during the last quarter. Manatuck Hill Partners LLC increased its position in shares of Eastside Distilling by 20.4% during the 3rd quarter. Manatuck Hill Partners LLC now owns 297,500 shares of the company’s stock worth $2,440,000 after purchasing an additional 50,500 shares during the last quarter. Connors Investor Services Inc. increased its position in shares of Eastside Distilling by 36.3% during the 3rd quarter. Connors Investor Services Inc. now owns 27,244 shares of the company’s stock worth $223,000 after purchasing an additional 7,250 shares during the last quarter. Finally, ARS Investment Partners LLC increased its position in shares of Eastside Distilling by 360.7% during the 3rd quarter. ARS Investment Partners LLC now owns 270,238 shares of the company’s stock worth $2,216,000 after purchasing an additional 211,586 shares during the last quarter. 20.55% of the stock is owned by institutional investors and hedge funds.

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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.

Further Reading: What is Cost of Capital?

Insider Buying and Selling by Quarter for Eastside Distilling (NASDAQ:EAST)

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