Vector Group (NYSE:VGR) is seeing strong trading volume

VaselineAugust 27, 2024

0 2 minutes read

Vector Group Ltd. (NYSE:VGR – Get Your Free Report ) saw unusually high trading volume on Thursday. About 1,478,922 shares changed hands during trading, a 16% increase from the previous session’s volume of 1,273,131 shares. Shares last traded at $15.10 and previously closed at $15.13.

Changes in Analyst Ratings

VGR has been the subject of several recent analyst reports. StockNews.com cut shares of Vector Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Barclays upped their target price on shares of Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th.

Read our latest research report on VGR

Vector group price performance

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The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 13.05 and a beta of 1.03. The stock has a 50-day moving average price of $12.05 and a 200-day moving average price of $11.17.

Vector Group (NYSE:VGR – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $371.91 million for the quarter, compared to analyst estimates of $362.90 million. Vector Group had a negative return on equity of 26.62% and a net margin of 14.05%. As a group, equities research analysts predict that Vector Group Ltd. will post 1.16 earnings per share for the current year.

Vector Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30. This represents an annualized dividend of $0.80 and a yield of 5.29%. Vector Group’s dividend payout ratio (DPR) is 68.97%.

Hedge funds are weighing on Vector Group

A number of large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new position in shares of Vector Group in the second quarter valued at about $59,000. ORG Partners LLC raised its stake in shares of Vector Group by 252.3% in the second quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock worth $66,000 after purchasing an additional 4,325 shares during the last quarter. Quarry LP boosted its holdings in shares of Vector Group by 112.6% in the second quarter. Quarry LP now owns 9,648 shares of the company’s stock valued at $102,000 after buying an additional 5,110 shares during the period. Private Portfolio Partners LLC acquired a new stake in shares of Vector Group in the fourth quarter valued at approximately $113,000. Finally, Somerset Trust Co acquired a new stake in shares of Vector Group in the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 64.09% of the company’s shares.

About Vector Group

(Get a free report)

Vector Group Ltd., through its subsidiaries, engages in the manufacture and sale of cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes under the Montego, EAGLE 20, Pyramid, Grand Prix, Liggett Select, Eve and USA brands, as well as various partner and private brands.