Vector Group Ltd. (NYSE:VGR) Short Interest Down 22.7% in August

Vector Group Ltd. (NYSE:VGR) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 4,890,000 shares, a decrease of 22.7% from the August 15th total of 6,330,000 shares. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is presently 2.5 days. Currently, 3.7% of the shares of the stock are short sold.

Vector Group Stock Up 0.2 %

Vector Group stock traded up $0.03 during mid-day trading on Friday, hitting $14.94. 2,180,858 shares of the stock were exchanged, compared to its average volume of 1,414,229. The firm’s fifty day simple moving average is $13.40 and its two-hundred day simple moving average is $11.64. Vector Group has a 12 month low of $9.27 and a 12 month high of $15.53. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 12.88 and a beta of 1.04.

Vector Group (NYSE:VGR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $371.91 million during the quarter, compared to the consensus estimate of $362.90 million. Vector Group had a negative return on equity of 26.96% and a net margin of 14.05%. As a group, analysts forecast that Vector Group will post 1.22 earnings per share for the current fiscal year.

Vector Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 30th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 5.35%. Vector Group’s dividend payout ratio is currently 68.97%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Optimist Retirement Group LLC bought a new position in shares of Vector Group in the 4th quarter worth $949,000. Duality Advisers LP bought a new stake in shares of Vector Group during the first quarter worth about $900,000. Tidal Investments LLC acquired a new stake in shares of Vector Group in the 1st quarter worth about $527,000. Jacobs Levy Equity Management Inc. lifted its position in Vector Group by 6.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,181,224 shares of the company’s stock valued at $12,946,000 after acquiring an additional 70,685 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in Vector Group by 3,851,600.0% during the 2nd quarter. Quest Partners LLC now owns 38,517 shares of the company’s stock valued at $407,000 after purchasing an additional 38,516 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on VGR. Barclays boosted their price target on Vector Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. StockNews.com started coverage on shares of Vector Group in a report on Sunday, September 8th. They set a “buy” rating on the stock.

About Vector Group

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.