Vector Group Ltd. (NYSE:VGR) Sees Significant Increase in Short Interest

Vector Group Ltd. (NYSE:VGR) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 7,380,000 shares, an increase of 23.0% from the June 30th total of 6,000,000 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,450,000 shares, the short-interest ratio is presently 5.1 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Vector Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Vector Group Stock Up 2.2 %

Vector Group stock traded up $0.28 during mid-day trading on Friday, hitting $12.80. The company’s stock had a trading volume of 1,395,650 shares, compared to its average volume of 1,145,210. Vector Group has a twelve month low of $9.27 and a twelve month high of $13.32. The stock has a market capitalization of $2.01 billion, a P/E ratio of 11.03 and a beta of 1.03. The stock’s fifty day moving average price is $11.05 and its two-hundred day moving average price is $10.80.

Vector Group (NYSE:VGR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $324.57 million for the quarter, compared to analysts’ expectations of $333.30 million. Vector Group had a net margin of 12.98% and a negative return on equity of 25.89%. During the same period in the prior year, the company posted $0.22 earnings per share. Equities analysts expect that Vector Group will post 1.16 earnings per share for the current year.

Vector Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Wednesday, June 5th. Vector Group’s dividend payout ratio (DPR) is currently 68.97%.

Institutional Trading of Vector Group

Several hedge funds and other institutional investors have recently modified their holdings of VGR. ORG Partners LLC lifted its position in Vector Group by 252.3% in the 2nd quarter. ORG Partners LLC now owns 6,039 shares of the company’s stock worth $66,000 after buying an additional 4,325 shares in the last quarter. Private Portfolio Partners LLC purchased a new stake in shares of Vector Group during the fourth quarter worth $113,000. Somerset Trust Co acquired a new stake in Vector Group during the second quarter valued at $110,000. SpiderRock Advisors LLC purchased a new position in Vector Group in the first quarter valued at about $112,000. Finally, Covestor Ltd increased its position in Vector Group by 87.8% in the 1st quarter. Covestor Ltd now owns 11,773 shares of the company’s stock worth $129,000 after purchasing an additional 5,503 shares during the last quarter. Institutional investors and hedge funds own 64.09% of the company’s stock.

Vector Group Company Profile

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's, Pyramid, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.