Mackay Shields LLC Decreases Stock Position in Vector Group Ltd (NYSE:VGR)

Mackay Shields LLC cut its stake in Vector Group Ltd (NYSE:VGR) by 10.3% in the first quarter, HoldingsChannel reports. The firm owned 264,343 shares of the company’s stock after selling 30,200 shares during the quarter. Mackay Shields LLC’s holdings in Vector Group were worth $2,490,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. O Shares Investment Advisers LLC boosted its holdings in Vector Group by 3.1% in the fourth quarter. O Shares Investment Advisers LLC now owns 24,624 shares of the company’s stock valued at $330,000 after purchasing an additional 743 shares during the period. Prudential Financial Inc. boosted its holdings in Vector Group by 0.4% in the fourth quarter. Prudential Financial Inc. now owns 195,072 shares of the company’s stock valued at $2,612,000 after purchasing an additional 800 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Vector Group by 2.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 35,275 shares of the company’s stock valued at $472,000 after purchasing an additional 940 shares during the period. Hikari Power Ltd boosted its holdings in Vector Group by 5.0% in the fourth quarter. Hikari Power Ltd now owns 19,834 shares of the company’s stock valued at $266,000 after purchasing an additional 944 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Vector Group by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 46,440 shares of the company’s stock valued at $622,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 57.43% of the company’s stock.

Vector Group stock opened at $10.93 on Friday. Vector Group Ltd has a 1-year low of $7.92 and a 1-year high of $14.42. The stock has a market cap of $1.62 billion, a PE ratio of 21.14 and a beta of 0.97. The stock’s fifty day moving average is $10.35 and its two-hundred day moving average is $12.01.

Vector Group (NYSE:VGR) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.21. Vector Group had a negative return on equity of 20.78% and a net margin of 4.27%. The company had revenue of $454.50 million for the quarter, compared to analysts’ expectations of $416.30 million. During the same period last year, the firm earned $0.08 earnings per share. Vector Group’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Vector Group Ltd will post 0.71 earnings per share for the current year.

In other news, Director Bennett S. Lebow sold 50,000 shares of Vector Group stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $566,500.00. Following the sale, the director now owns 3,002,032 shares in the company, valued at $34,013,022.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bennett S. Lebow sold 125,000 shares of Vector Group stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $11.47, for a total value of $1,433,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,000 shares of company stock worth $3,070,250. 11.50% of the stock is owned by insiders.

VGR has been the topic of a number of analyst reports. ValuEngine cut Vector Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 7th. Zacks Investment Research cut Vector Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Vector Group Company Profile

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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Institutional Ownership by Quarter for Vector Group (NYSE:VGR)

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