IFP Advisors Inc Grows Position in Vector Group Ltd. (VGR)
IFP Advisors Inc raised its stake in Vector Group Ltd. (NYSE:VGR) by 135.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,742 shares of the company’s stock after acquiring an additional 18,275 shares during the period. IFP Advisors Inc’s holdings in Vector Group were worth $650,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Parametrica Management Ltd acquired a new position in Vector Group in the 3rd quarter valued at $217,000. Raymond James Financial Services Advisors Inc. raised its holdings in Vector Group by 58.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,731 shares of the company’s stock valued at $547,000 after acquiring an additional 9,823 shares in the last quarter. First Trust Advisors LP acquired a new position in Vector Group in the 3rd quarter valued at $1,010,000. Robeco Institutional Asset Management B.V. raised its holdings in Vector Group by 4.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,302,262 shares of the company’s stock valued at $47,127,000 after acquiring an additional 90,678 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in Vector Group by 2.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 401,536 shares of the company’s stock valued at $8,219,000 after acquiring an additional 11,203 shares in the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on VGR shares. TheStreet cut Vector Group from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. BidaskClub upgraded Vector Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th.
Vector Group Ltd. (NYSE:VGR) opened at $20.69 on Monday. Vector Group Ltd. has a 52 week low of $18.70 and a 52 week high of $22.13. The company has a quick ratio of 2.61, a current ratio of 2.97 and a debt-to-equity ratio of -4.41. The stock has a market capitalization of $2,796.86, a price-to-earnings ratio of 30.60 and a beta of 0.43.
Vector Group (NYSE:VGR) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.07. Vector Group had a negative return on equity of 36.72% and a net margin of 2.86%. The company had revenue of $472.00 million for the quarter, compared to analyst estimates of $449.40 million. During the same quarter last year, the company posted $0.20 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. sell-side analysts expect that Vector Group Ltd. will post 0.64 earnings per share for the current year.
Vector Group 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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