Vector Group Ltd. (NYSE:VGR) Rating Increased to Hold at BidaskClub
Vector Group Ltd. (NYSE:VGR) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
VGR has been the topic of a number of other research reports. Zacks Investment Research upgraded Vector Group from a “sell” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Wednesday, May 3rd. TheStreet cut Vector Group from a “b-” rating to a “c+” rating in a report on Thursday, July 27th.
Vector Group (NYSE:VGR) traded up 0.96% during mid-day trading on Thursday, reaching $21.00. 57,454 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $21.03 and a 200-day moving average price of $21.46. Vector Group has a 52 week low of $19.63 and a 52 week high of $23.24. The stock has a market cap of $2.70 billion, a P/E ratio of 56.76 and a beta of 0.46.
Vector Group (NYSE:VGR) last issued its earnings results on Friday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $472 million for the quarter, compared to analysts’ expectations of $449.40 million. During the same quarter last year, the business earned $0.20 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Vector Group will post $0.67 earnings per share for the current year.
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In other news, insider Howard M. Lorber sold 226,834 shares of Vector Group stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $21.36, for a total transaction of $4,845,174.24. Following the transaction, the insider now 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 is available at the SEC website. Insiders own 12.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in Vector Group by 1.1% in the second quarter. IFP Advisors Inc now owns 13,467 shares of the company’s stock valued at $287,000 after buying an additional 142 shares during the period. Solaris Asset Management LLC boosted 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 valued at $256,000 after buying an additional 375 shares during the period. Legal & General Group Plc boosted its position in Vector Group by 1.2% in the second quarter. Legal & General Group Plc now owns 32,495 shares of the company’s stock valued at $692,000 after buying an additional 376 shares during the period. Prudential Financial Inc. boosted its position in Vector Group by 4.4% in the second quarter. Prudential Financial Inc. now owns 11,078 shares of the company’s stock valued at $236,000 after buying an additional 470 shares during the period. Finally, Blue Fin Capital Inc. boosted its position in Vector Group by 3.0% in the second quarter. Blue Fin Capital Inc. now owns 17,273 shares of the company’s stock valued at $368,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 47.18% of the company’s stock.
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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