Janney Montgomery Scott LLC Buys 6,112 Shares of Vector Group Ltd. (VGR)
Janney Montgomery Scott LLC increased its stake in Vector Group Ltd. (NYSE:VGR) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,393 shares of the company’s stock after buying an additional 6,112 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of Vector Group worth $1,629,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of Vector Group during the first quarter valued at approximately $167,000. Waldron LP bought a new position in shares of Vector Group during the first quarter valued at approximately $202,000. Park Avenue Securities LLC bought a new position in shares of Vector Group during the first quarter valued at approximately $210,000. Solaris Asset Management LLC increased its position in shares of Vector Group by 3.1% in the first quarter. Solaris Asset Management LLC now owns 12,317 shares of the company’s stock valued at $256,000 after buying an additional 375 shares during the last quarter. Finally, USA Mutuals Advisors Inc. increased its position in shares of Vector Group by 27.0% in the first quarter. USA Mutuals Advisors Inc. now owns 12,700 shares of the company’s stock valued at $264,000 after buying an additional 2,700 shares during the last quarter. 47.18% of the stock is currently owned by hedge funds and other institutional investors.
Vector Group Ltd. (VGR) opened at 21.51 on Wednesday. The stock has a 50 day moving average price of $21.08 and a 200-day moving average price of $21.50. Vector Group Ltd. has a 52 week low of $19.63 and a 52 week high of $23.24. The firm has a market capitalization of $2.78 billion, a P/E ratio of 58.29 and a beta of 0.46.
Vector Group (NYSE:VGR) last posted its earnings results on Friday, August 4th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. The company had revenue of $472 million during the quarter, compared to analyst estimates of $449.40 million. Vector Group had a net margin of 2.86% and a negative return on equity of 38.49%. Vector Group’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. Analysts anticipate that Vector Group Ltd. will post $0.67 EPS for the current fiscal year.
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Several research analysts have commented on the company. BidaskClub downgraded Vector Group from a “hold” rating to a “sell” rating in a report on Friday, August 4th. TheStreet downgraded Vector Group from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research raised Vector Group from a “sell” rating to a “hold” rating in a report on Thursday, July 6th.
In other news, insider Howard M. Lorber sold 226,834 shares of the 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 directly owns 436,665 shares in the company, valued at $9,327,164.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.90% of the company’s stock.
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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