Convergence Investment Partners LLC Increases Stock Holdings in Vector Group Ltd (NYSE:VGR)

Convergence Investment Partners LLC increased its holdings in shares of Vector Group Ltd (NYSE:VGR) by 15.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,038 shares of the company’s stock after buying an additional 11,462 shares during the quarter. Convergence Investment Partners LLC’s holdings in Vector Group were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Washington Trust Bank purchased a new position in Vector Group during the 2nd quarter worth $252,000. Sciencast Management LP purchased a new position in Vector Group during the 2nd quarter worth $145,000. Wakefield Asset Management LLLP purchased a new position in Vector Group during the 2nd quarter worth $536,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Vector Group by 22.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,689 shares of the company’s stock worth $158,000 after buying an additional 2,914 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Vector Group by 11.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 80,725 shares of the company’s stock worth $812,000 after buying an additional 8,200 shares during the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

In other news, Director Bennett S. Lebow sold 150,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $12.03, for a total value of $1,804,500.00. Following the sale, the director now owns 3,002,032 shares in the company, valued at $36,114,444.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.50% of the stock is owned by corporate insiders.

Vector Group stock traded up $0.03 during trading hours on Friday, hitting $8.82. 1,036,583 shares of the stock traded hands, compared to its average volume of 785,749. The firm’s 50 day moving average price is $9.85 and its 200-day moving average price is $11.16. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.06 and a beta of 0.99. Vector Group Ltd has a 1 year low of $7.92 and a 1 year high of $14.42.

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 Thomson Reuters’ consensus estimate of $0.06 by $0.21. The business had revenue of $454.50 million for the quarter, compared to the consensus estimate of $416.30 million. Vector Group had a negative return on equity of 20.78% and a net margin of 4.27%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. Sell-side analysts expect that Vector Group Ltd will post 0.71 earnings per share for the current year.

Several analysts have weighed in on VGR shares. ValuEngine upgraded Vector Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 28th. Zacks Investment Research downgraded Vector Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th.

Vector Group 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.

Featured Article: Diversification in Investing

Want to see what other hedge funds are holding VGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vector Group Ltd (NYSE:VGR).

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

Receive News & Ratings for Vector Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vector Group and related companies with MarketBeat.com's FREE daily email newsletter.