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

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

Wall Street Analysts Forecast Growth

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

Vector Group Trading Up 2.2 %

VGR traded up $0.28 during trading hours 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. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 11.03 and a beta of 1.03. The business’s 50-day moving average price is $11.05 and its 200-day moving average price is $10.80. Vector Group has a 12 month low of $9.27 and a 12 month high of $13.32.

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

Vector Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, June 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.80 annualized dividend and a dividend yield of 6.25%. Vector Group’s payout ratio is 68.97%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Optimist Retirement Group LLC purchased a new stake in Vector Group in the fourth quarter worth about $949,000. Duality Advisers LP purchased a new stake in Vector Group during the 1st quarter worth approximately $900,000. Hennion & Walsh Asset Management Inc. increased its stake in Vector Group by 27.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 130,525 shares of the company’s stock valued at $1,431,000 after purchasing an additional 28,476 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Vector Group by 57.7% in the fourth quarter. Ritholtz Wealth Management now owns 57,953 shares of the company’s stock worth $654,000 after buying an additional 21,195 shares during the last quarter. Finally, Trexquant Investment LP increased its position in shares of Vector Group by 113.7% in the 4th quarter. Trexquant Investment LP now owns 25,548 shares of the company’s stock valued at $288,000 after acquiring an additional 13,595 shares during the period. Hedge funds and other institutional investors 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.