Alpine Associates Management Inc. purchased a new position in shares of Vector Group Ltd. (NYSE:VGR – Free Report) in the third quarter, Holdings Channel reports. The fund purchased 244,100 shares of the company’s stock, valued at approximately $3,642,000.
Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Vector Group in the second quarter valued at $59,000. ORG Partners LLC lifted its holdings 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 valued at $66,000 after buying an additional 4,325 shares during the period. Quarry LP lifted 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. Somerset Trust Co acquired a new stake in shares of Vector Group in the second quarter valued at $110,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Vector Group in the second quarter valued at $116,000. Institutional investors and hedge funds own 64.09% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on VGR. Barclays upped their price objective on Vector Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. StockNews.com started coverage on Vector Group in a report on Tuesday. They issued a “strong-buy” rating for the company.
Vector Group Price Performance
Shares of NYSE VGR opened at $14.99 on Wednesday. Vector Group Ltd. has a 12 month low of $9.27 and a 12 month high of $15.53. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 12.92 and a beta of 1.04. The business has a fifty day simple moving average of $14.97 and a 200-day simple moving average of $13.11.
Vector Group 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.
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