Convergence Investment Partners LLC lifted its holdings in shares of Vector Group Ltd (NYSE:VGR) by 15.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,038 shares of the company’s stock after buying an additional 11,462 shares during the period. Convergence Investment Partners LLC owned approximately 0.06% of Vector Group worth $866,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors raised its stake in shares of Vector Group by 283.3% in the first quarter. Capital Research Global Investors now owns 9,596,258 shares of the company’s stock worth $90,397,000 after buying an additional 7,092,733 shares during the period. State Street Corp raised its stake in Vector Group by 5.0% during the 1st quarter. State Street Corp now owns 3,476,224 shares of the company’s stock valued at $32,746,000 after purchasing an additional 166,100 shares during the period. Martingale Asset Management L P raised its stake in Vector Group by 1,070.0% during the 1st quarter. Martingale Asset Management L P now owns 136,285 shares of the company’s stock valued at $1,284,000 after purchasing an additional 124,637 shares during the period. Federated Hermes Inc. raised its stake in Vector Group by 146.4% during the 1st quarter. Federated Hermes Inc. now owns 195,241 shares of the company’s stock valued at $1,839,000 after purchasing an additional 116,010 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Vector Group by 115.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 198,099 shares of the company’s stock valued at $1,866,000 after purchasing an additional 106,310 shares during the period. 60.07% of the stock is currently owned by institutional investors.
VGR has been the topic of several recent analyst reports. Zacks Investment Research downgraded Vector Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. ValuEngine raised Vector Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 28th.
NYSE VGR traded up $0.03 during trading on Friday, hitting $8.82. 1,036,583 shares of the stock traded hands, compared to its average volume of 785,749. The company has a market capitalization of $1.31 billion, a P/E ratio of 17.06 and a beta of 0.99. The firm has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $11.16. Vector Group Ltd has a 12-month low of $7.92 and a 12-month high of $14.42.
Vector Group (NYSE:VGR) last released its quarterly earnings results on Friday, May 8th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $454.50 million during the quarter, compared to analysts’ expectations of $416.30 million. Vector Group had a negative return on equity of 20.78% and a net margin of 4.27%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. Equities analysts forecast that Vector Group Ltd will post 0.71 EPS for the current fiscal year.
In other news, Director Bennett S. Lebow sold 150,000 shares of Vector Group stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $12.03, for a total value of $1,804,500.00. Following the completion of the transaction, the director now owns 3,002,032 shares in the company, valued at approximately $36,114,444.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.50% of the stock is currently owned by insiders.
About Vector Group
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes in 109 combinations under the Pyramid, EAGLE 20's, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.
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