Commonwealth Equity Services LLC raised its stake in Vector Group Ltd (NYSE:VGR) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,709 shares of the company’s stock after buying an additional 11,872 shares during the period. Commonwealth Equity Services LLC owned approximately 0.16% of Vector Group worth $3,082,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Fort L.P. purchased a new position in Vector Group in the second quarter valued at about $120,000. Signition LP purchased a new position in shares of Vector Group during the 3rd quarter worth approximately $160,000. Cypress Capital Group purchased a new position in shares of Vector Group during the 2nd quarter worth approximately $217,000. ARP Americas LP purchased a new position in shares of Vector Group during the 3rd quarter worth approximately $226,000. Finally, American Asset Management Inc. increased its stake in shares of Vector Group by 39.6% during the 3rd quarter. American Asset Management Inc. now owns 20,111 shares of the company’s stock worth $277,000 after purchasing an additional 5,703 shares in the last quarter. 47.40% of the stock is owned by institutional investors.
In related news, insider Howard M. Lorber sold 700,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $14.18, for a total transaction of $9,926,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bennett S. Lebow sold 400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $13.83, for a total transaction of $5,532,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,405,609 shares of company stock worth $19,780,392. 12.50% of the stock is owned by company insiders.
Shares of NYSE VGR opened at $13.59 on Friday. Vector Group Ltd has a 1 year low of $12.56 and a 1 year high of $23.14. The company has a market cap of $1.95 billion, a P/E ratio of 23.84 and a beta of 0.29.
Vector Group (NYSE:VGR) last announced its earnings results on Wednesday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. Vector Group had a net margin of 4.29% and a negative return on equity of 16.61%. The firm had revenue of $513.90 million for the quarter, compared to analyst estimates of $495.70 million. During the same quarter last year, the business earned $0.15 earnings per share. Vector Group’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that Vector Group Ltd will post 0.52 EPS for the current year.
About Vector Group
Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates through Tobacco, E-Cigarettes, and Real Estate segments. The company produces cigarettes in 109 combinations under the PYRAMID, EAGLE 20's, GRAND PRIX, LIGGETT SELECT, and EVE brand names, as well as USA and various partner brands, and private label brands.
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