Stone Ridge Asset Management LLC Purchases New Stake in Vector Group Ltd (VGR)

Stone Ridge Asset Management LLC purchased a new position in shares of Vector Group Ltd (NYSE:VGR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,809 shares of the company’s stock, valued at approximately $149,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fort L.P. acquired a new stake in Vector Group during the 2nd quarter worth about $120,000. Cornerstone Wealth Management LLC purchased a new position in shares of Vector Group during the 2nd quarter valued at about $556,000. Cypress Capital Group purchased a new position in shares of Vector Group during the 2nd quarter valued at about $217,000. Signition LP purchased a new position in shares of Vector Group during the 3rd quarter valued at about $160,000. Finally, Bank of Montreal Can raised its stake in shares of Vector Group by 28.7% during the 2nd quarter. Bank of Montreal Can now owns 15,128 shares of the company’s stock valued at $288,000 after buying an additional 3,371 shares during the last quarter. 47.40% of the stock is owned by institutional investors.

NYSE VGR opened at $13.56 on Friday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 23.79 and a beta of 0.29. Vector Group Ltd has a fifty-two week low of $12.56 and a fifty-two week high of $23.14.

Vector Group (NYSE:VGR) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. The business had revenue of $513.90 million during the quarter, compared to analyst estimates of $495.70 million. Vector Group had a negative return on equity of 16.61% and a net margin of 4.29%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, equities research analysts expect that Vector Group Ltd will post 0.52 earnings per share for the current fiscal year.

In other Vector Group news, major shareholder Phillip Md Et Al Frost sold 145,609 shares of Vector Group stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $14.19, for a total transaction of $2,066,191.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard M. Lorber sold 700,000 shares of Vector Group stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $14.18, for a total value of $9,926,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,405,609 shares of company stock valued at $19,780,392 in the last quarter. Company insiders own 12.50% of the company’s stock.

A number of equities analysts have weighed in on VGR shares. Zacks Investment Research lowered Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. UBS Group lowered Vector Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 3rd. ValuEngine lowered Vector Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, Oppenheimer reiterated a “hold” rating on shares of Vector Group in a research note on Wednesday, November 7th.

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Vector Group Profile

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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Institutional Ownership by Quarter for Vector Group (NYSE:VGR)

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