BidaskClub Upgrades Vector Group Ltd. (NYSE:VGR) to “Hold”

BidaskClub upgraded shares of Vector Group Ltd. (NYSE:VGR) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Vector Group from a sell rating to a buy rating and set a $24.00 price objective 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.

Shares of Vector Group (VGR) opened at 21.12 on Thursday. Vector Group has a 12-month low of $19.63 and a 12-month high of $23.24. The company has a 50 day moving average price of $21.01 and a 200 day moving average price of $21.44. The stock has a market cap of $2.72 billion, a P/E ratio of 57.08 and a beta of 0.46.

Vector Group (NYSE:VGR) last posted its quarterly earnings data 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. Vector Group had a negative return on equity of 36.72% and a net margin of 2.86%. The business had revenue of $472 million for the quarter, compared to analysts’ expectations of $449.40 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Vector Group will post $0.67 earnings per share for the current fiscal year.

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In related news, insider Howard M. Lorber sold 226,834 shares of Vector Group stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.36, for a total value of $4,845,174.24. Following the transaction, the insider now owns 436,665 shares in the company, valued at $9,327,164.40. The sale 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.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of Vector Group by 14.3% in the first quarter. Renaissance Technologies LLC now owns 7,542,903 shares of the company’s stock worth $156,892,000 after buying an additional 942,683 shares during the last quarter. Acadian Asset Management LLC boosted its position 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 during the last quarter. Vanguard Group Inc. boosted its position in shares of Vector Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 8,657,511 shares of the company’s stock worth $180,077,000 after buying an additional 288,771 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Vector Group during the first quarter worth $4,577,000. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Vector Group by 83.9% in the second quarter. TIAA CREF Investment Management LLC now owns 460,071 shares of the company’s stock worth $9,809,000 after buying an additional 209,830 shares during the last quarter. Hedge funds and other institutional investors own 47.29% 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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