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Vector (VGR)

Vector Group Ltd. is a holding company, which engages in the distribution of tobacco products. It operates through the following segments: Tobacco, Real Estate, and Corporate and Other. The Tobacco segment consists of manufacture and sale of cigarettes. The Real Estate segment includes acquisition and investments in real estate properties and projects. The company was founded in 1980 and is headquartered in Miami, FL.

Company profile

Ticker
VGR
Exchange
CEO
Howard Lorber
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
BROOKE GROUP LTD
SEC CIK
Subsidiaries
VGR Holding LLC • Liggett Group LLC • Vector Tobacco LLC • New Valley LLC ...
IRS number
650949535

VGR stock data

Analyst ratings and price targets

Last 3 months

Calendar

5 Aug 22
11 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 349.34M 349.34M 349.34M 349.34M 349.34M 349.34M
Cash burn (monthly) (no burn) 12.98M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 18.28M n/a n/a n/a n/a
Cash remaining n/a 331.06M n/a n/a n/a n/a
Runway (months of cash) n/a 25.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Aug 22 Ronald J Bernstein Common Stock Sell Dispose S No No 10.5481 10,000 105.48K 52,630
10 Jul 22 James D Ballard Common Stock Payment of exercise Dispose F No No 10.1175 1,967 19.9K 68,276
1 Jul 22 Lorber Howard M Common Stock Payment of exercise Dispose F No No 10.44 98,260 1.03M 2,114,809
1 Jul 22 Lorber Howard M Common Stock Grant Acquire A No No 0 208,372 0 2,213,069
27 May 22 Bell Marc N Common stock Payment of exercise Dispose F No No 12.35 3,935 48.6K 288,138
27 May 22 Kirkland J Bryant Iii Common Stock Payment of exercise Dispose F No No 12.35 3,935 48.6K 400,037
73.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 229 243 -5.8%
Opened positions 27 55 -50.9%
Closed positions 41 17 +141.2%
Increased positions 91 78 +16.7%
Reduced positions 71 74 -4.1%
13F shares Current Prev Q Change
Total value 1.39B 1.31B +6.0%
Total shares 112.98M 110.46M +2.3%
Total puts 56.4K 151K -62.6%
Total calls 166.6K 459.4K -63.7%
Total put/call ratio 0.3 0.3 +3.0%
Largest owners Shares Value Change
BLK Blackrock 20.54M $247.32M +0.3%
Vanguard 17.14M $206.37M +4.1%
Phillip MD Frost Et Al 14.75M $204.98M 0.0%
Capital Research Global Investors 10.42M $125.5M -0.9%
Renaissance Technologies 8.36M $100.6M -1.6%
STT State Street 4.25M $51.17M +5.8%
BK Bank Of New York Mellon 2.88M $34.7M +0.6%
Dimensional Fund Advisors 2.87M $34.51M -0.1%
Geode Capital Management 2.46M $29.62M +6.7%
Charles Schwab Investment Management 1.94M $23.36M +26.5%
Largest transactions Shares Bought/sold Change
Millennium Management 1.21M +1.12M +1339.4%
GS Goldman Sachs 1.45M +1.02M +239.8%
Arrowstreet Capital, Limited Partnership 0 -1M EXIT
Mirae Asset Global Investments 0 -908.15K EXIT
Victory Capital Management 1.27M +846.81K +200.8%
Vanguard 17.14M +673.81K +4.1%
Etf Managers 1.55M -587.33K -27.4%
Schonfeld Strategic Advisors 0 -448.76K EXIT
D. E. Shaw & Co. 690.77K +441.25K +176.8%
Pacer Advisors 936.79K +436.18K +87.1%

Financial report summary

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Competition
22nd Century
Risks
  • Liggett faces intense competition in the domestic tobacco industry.
  • Liggett’s business is highly dependent on the discount cigarette segment and to maintain market share, it may be required to take steps to reduce prices.
  • Our tobacco operations are subject to substantial and increasing legislation, regulation and taxation, which have a negative effect on revenue and profitability.
  • FDA Regulation under the Family Smoking Prevention and Tobacco Control Act may adversely affect our sales and operating profit.
  • Litigation will continue to harm the tobacco industry, including Liggett.
  • Individual tobacco-related cases resulting from the Florida Supreme Court’s ruling in Engle could continue to harm Liggett.
  • Liggett may have additional payment obligations under the MSA.
  • Liggett may have additional payment obligations under its individual state settlements.
  • New Valley is subject to risks relating to the industries in which it operates.
  • We may be unable to achieve some or all of the benefits that we expect to achieve from our spin-off from Douglas Elliman
  • In connection with the spin-off, we agreed to indemnify Douglas Elliman and Douglas Elliman agreed to indemnify us for certain liabilities, and if we are required to perform under these indemnities or if Douglas Elliman is unable to satisfy its obligations under these indemnities, our financial results could be negatively affected.
  • The spin-off and related transactions may expose us to potential liabilities arising out of state and federal fraudulent conveyance laws and legal distribution requirements.
  • Certain directors who serve on our Board of Directors currently serve as directors of Douglas Elliman following the spin-off, and ownership of shares of common stock of Douglas Elliman following the spin-off by our directors and executive officers may create, or appear to create, conflicts of interest.
  • After the spin-off, certain of our executive officers will not devote their full time to Vector Group’s affairs, and the overlap may give rise to conflicts.
  • If the distribution, together with certain related transactions, were to fail to qualify as a reorganization for U.S. federal income tax purposes under Sections 368(a)(1)(D) and 355 of the Internal Revenue Code of l986, as amended (“Code”), then our stockholders, we and Douglas Elliman might be required to pay substantial U.S. federal income taxes.
  • We are subject to continuing contingent tax-related liabilities of Douglas Elliman following the spin-off.
  • Our ability to engage in acquisitions and other strategic transactions is subject to limitations because we have agreed to certain restrictions intended to support the tax-free nature of the spin-off.
  • We and our subsidiaries have a substantial amount of indebtedness and liquidity commitments.
  • We have significant liquidity commitments.
  • Servicing our indebtedness requires a significant amount of cash and we may not generate sufficient cash flow from our businesses to pay our substantial indebtedness.
  • Our high level of debt may adversely affect our ability to satisfy our obligations.
  • Changes in respect of the debt ratings of our notes may materially and adversely affect the availability, the cost and the terms and conditions of our debt.
  • The Tax Act may increase the after-tax cost of debt financings.
  • We are a holding company and depend on cash payments from our subsidiaries, which are subject to contractual and other restrictions, in order to service our debt and to pay dividends on our common stock.
  • Maintaining the integrity of our computer systems and protecting confidential information and personal identifying information has become increasingly costly, as cybersecurity incidents could disrupt business operations, result in the loss of critical and confidential information, and adversely impact our reputation and results of operations.
  • We depend on our key personnel.
  • Failure to maintain effective internal control over financial reporting could adversely affect us.
  • The price of our common stock may fluctuate significantly.
Management Discussion
  • For purposes of this discussion and other consolidated financial reporting, our business segments for the three and six months ended June 30, 2022 and 2021 were Tobacco and Real Estate. The Tobacco segment consisted of the manufacture and sale of cigarettes. The Real Estate segment included our investment in New Valley, which includes investments in real estate and investments in real estate ventures.
  • (1) Operating income includes $57 of litigation settlement and judgment expense.
  • of litigation settlement and judgment expense.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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