Zacks Investment Research lowered shares of Vector Group Ltd. (NYSE:VGR) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
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. “
VGR has been the topic of several other reports. BidaskClub lowered shares of Vector Group from a hold rating to a sell rating in a research report on Friday, August 4th. TheStreet downgraded shares of Vector Group from a b- rating to a c+ rating in a report on Thursday, July 27th.
Shares of Vector Group (VGR) traded down 0.09% during midday trading on Wednesday, hitting $21.12. 657,376 shares of the stock were exchanged. The stock’s 50 day moving average is $21.01 and its 200 day moving average is $21.44. The firm has a market cap of $2.72 billion, a P/E ratio of 57.08 and a beta of 0.46. Vector Group has a 12-month low of $19.63 and a 12-month high of $23.24.
Vector Group (NYSE:VGR) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.07. The company had revenue of $472 million for 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 36.72%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, equities research analysts forecast that Vector Group will post $0.67 earnings per share for the current fiscal year.
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In other news, insider Howard M. Lorber sold 226,834 shares of the firm’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 transaction, the insider now directly owns 436,665 shares of the company’s stock, valued at approximately $9,327,164.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in VGR. Bank of Montreal Can increased its position in shares of Vector Group by 27.0% in the first quarter. Bank of Montreal Can now owns 20,961 shares of the company’s stock valued at $435,000 after buying an additional 4,460 shares in the last quarter. Cypress Capital Management LLC WY increased its position in shares of Vector Group by 1.1% in the first quarter. Cypress Capital Management LLC WY now owns 98,421 shares of the company’s stock valued at $2,047,000 after buying an additional 1,039 shares in the last quarter. Moody National Bank Trust Division purchased a new position in shares of Vector Group during the first quarter valued at about $568,000. Navellier & Associates Inc increased its position 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 valued at $349,000 after buying an additional 775 shares in the last quarter. Finally, Waldron LP purchased a new position in shares of Vector Group during the first quarter valued at about $202,000. 47.18% of the stock is owned by hedge funds and other 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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