Vector Group Ltd. (NYSE:VGR) Downgraded by TheStreet
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Vector Group from a hold rating to a sell rating in a report on Wednesday, June 28th. BidaskClub cut shares of Vector Group from a buy rating to a hold rating in a report on Wednesday, July 5th.
Vector Group (NYSE:VGR) opened at 20.34 on Thursday. The firm has a 50-day moving average of $21.38 and a 200 day moving average of $21.58. The stock has a market capitalization of $2.63 billion, a PE ratio of 55.12 and a beta of 0.47. Vector Group has a one year low of $19.63 and a one year high of $23.24.
Vector Group (NYSE:VGR) last released its quarterly earnings results on Friday, May 5th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Vector Group had a net margin of 2.76% and a negative return on equity of 37.58%. The business had revenue of $415.20 million for the quarter, compared to analysts’ expectations of $369.60 million. During the same period last year, the business earned $0.16 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that Vector Group will post $0.64 earnings per share for the current fiscal year.
In related news, insider Howard M. Lorber sold 226,834 shares of Vector Group stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $21.36, for a total value of $4,845,174.24. Following the completion of the sale, the insider now directly owns 436,665 shares in the company, valued at approximately $9,327,164.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.90% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of VGR. Envestnet Asset Management Inc. raised its position in Vector Group by 55.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,746 shares of the company’s stock worth $153,000 after buying an additional 2,411 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Vector Group during the first quarter worth about $167,000. Waldron LP acquired a new position in Vector Group during the first quarter worth about $202,000. Park Avenue Securities LLC acquired a new position in Vector Group during the first quarter worth about $210,000. Finally, Solaris Asset Management LLC raised its position in Vector Group by 3.1% in the first quarter. Solaris Asset Management LLC now owns 12,317 shares of the company’s stock worth $256,000 after buying an additional 375 shares in the last quarter. 47.04% of the stock is owned by institutional investors.
About Vector Group
Vector Group Ltd. is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc (Vector Tobacco) subsidiaries, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects.
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