Vector Group Ltd (NYSE:VGR) Short Interest Update

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Vector Group Ltd (NYSE:VGR) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 10,964,300 shares, a growth of 6.1% from the May 30th total of 10,334,200 shares. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is presently 9.6 days. Approximately 10.1% of the shares of the company are sold short.

Separately, Zacks Investment Research upgraded Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday.

NYSE VGR opened at $9.74 on Wednesday. Vector Group has a 52-week low of $8.62 and a 52-week high of $18.97. The business’s 50-day moving average is $9.67. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 16.79 and a beta of 0.74.

Vector Group (NYSE:VGR) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.07). Vector Group had a negative return on equity of 18.17% and a net margin of 3.54%. The company had revenue of $420.90 million for the quarter, compared to analysts’ expectations of $437.00 million. During the same period in the prior year, the business earned $0.04 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts forecast that Vector Group will post 0.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 16.43%. The ex-dividend date of this dividend was Monday, June 17th. Vector Group’s dividend payout ratio is currently 275.86%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its position in shares of Vector Group by 208.3% during the 1st quarter. Lindbrook Capital LLC now owns 3,450 shares of the company’s stock valued at $37,000 after acquiring an additional 2,331 shares during the period. Royce & Associates LP lifted its position in shares of Vector Group by 28.3% during the 1st quarter. Royce & Associates LP now owns 4,845 shares of the company’s stock valued at $52,000 after acquiring an additional 1,068 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Vector Group by 500.9% during the 1st quarter. Quadrant Capital Group LLC now owns 6,556 shares of the company’s stock valued at $69,000 after acquiring an additional 5,465 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Vector Group during the 4th quarter valued at approximately $116,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Vector Group during the 4th quarter valued at approximately $120,000. 52.34% of the stock is currently owned by hedge funds and other institutional investors.

About Vector Group

Vector Group Ltd., through its subsidiaries, manufactures and sells cigarettes in the United States. It operates in two segments, Tobacco and Real Estate. The company produces cigarettes in 109 combinations under the Pyramid, EAGLE 20's, Grand Prix, Liggett Select, Eve, and USA brand names, as well as various partner and private label brands.

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