Vector Group Ltd. (NYSE:VGR) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Vector Group Ltd. (NYSE:VGR) from a sell rating to a hold rating in a report released on Thursday, July 6th.
According to Zacks, “BROOKE GROUP LTD. is principally engaged in the manufacture and sale of cigarettes and the sale of information processing systems. It also has investments in a number of additional companies engaged in a diverse group of businesses. “
Separately, BidaskClub downgraded shares of Vector Group from a buy rating to a hold rating in a research report on Wednesday, July 5th.
Vector Group (VGR) traded up 4.37% during mid-day trading on Thursday, hitting $20.76. The stock had a trading volume of 988,444 shares. The company has a 50 day moving average price of $21.25 and a 200-day moving average price of $21.53. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 56.26 and a beta of 0.46. 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 earnings results on Friday, August 4th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $472 million during the quarter, compared to the consensus estimate of $449.40 million. Vector Group had a net margin of 2.76% and a negative return on equity of 37.58%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 EPS. Equities analysts expect that Vector Group will post $0.64 earnings per share for the current fiscal year.
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In related news, insider Howard M. Lorber sold 226,834 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $21.36, for a total transaction of $4,845,174.24. Following the completion of the sale, the insider now owns 436,665 shares of the company’s stock, valued at approximately $9,327,164.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its stake in shares of Vector Group by 115.6% in the first quarter. Acadian Asset Management LLC now owns 1,353,262 shares of the company’s stock worth $28,148,000 after buying an additional 725,533 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Vector Group by 16.0% in the first quarter. ProShare Advisors LLC now owns 335,508 shares of the company’s stock worth $6,979,000 after buying an additional 46,227 shares in the last quarter. Waldron LP acquired a new stake in shares of Vector Group during the first quarter worth $202,000. Navellier & Associates Inc increased its stake in shares of Vector Group by 4.8% in the first quarter. Navellier & Associates Inc now owns 16,777 shares of the company’s stock worth $349,000 after buying an additional 775 shares in the last quarter. Finally, Moody National Bank Trust Division purchased a new position in Vector Group during the first quarter worth about $568,000. 47.14% of the stock is owned by institutional investors and hedge funds.
Vector Group Company Profile
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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