Company profile

Howard Mark Lorber
Incorporated in
Fiscal year end
Industry (SEC)
Former names
Brooke Group LTD
IRS number

VGR stock data

FINRA relative short interest over last month (20 trading days) ?


2 Mar 20
2 Apr 20
31 Dec 20


Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 439.57M 504.79M 538.43M 420.92M
Net income 10.71M 36.01M 39.31M 14.95M
Diluted EPS 0.06 0.23 0.25 0.08
Net profit margin 2.44% 7.13% 7.30% 3.55%
Operating income 45.58M 66.72M 76.24M 42.59M
Net change in cash 52.04M -4.56M 11.22M -271.94M
Cash on hand 371.34M 319.3M 323.86M 312.64M
Cost of revenue 301.93M 345.46M 368.17M 286.02M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 1.9B 1.87B 1.81B 1.69B
Net income 100.97M 58.11M 84.57M 71.13M
Diluted EPS 0.63 0.35 0.54 0.5
Net profit margin 5.30% 3.11% 4.68% 4.21%
Operating income 231.14M 224.05M 235.65M 234.51M
Net change in cash -213.24M 283.23M -92.18M 153.16M
Cash on hand 371.34M 584.58M 301.35M 393.53M
Cost of revenue 1.3B 1.29B 1.23B 1.1B

Financial data from Vector earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
19 Mar 20 Lebow Bennett S Common Stock Sell Dispose S 11.99 50,000 599.5K 780,895
18 Mar 20 Lebow Bennett S Common Stock Sell Dispose S 11.33 50,000 566.5K 830,895
9 Mar 20 Lebow Bennett S Common Stock Sell Dispose S 10.7 100,000 1.07M 3,002,032
5 Mar 20 Lebow Bennett S Common Stock Sell Dispose S 11.28 125,000 1.41M 2,066,428
4 Mar 20 Lebow Bennett S Common Stock Sell Dispose S 11.47 125,000 1.43M 2,191,428
19 Dec 19 Lebow Bennett S Common Stock Other Aquire J 0 903,107 0 3,077,562
19 Dec 19 Lebow Bennett S Common Stock Other Dispose J 0 1,252,543 0 879,672
19 Dec 19 Lebow Bennett S Common Stock Other Dispose J 0 114,843 0 2,138,847
0.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 2 209 -99.0%
Opened positions 1 58 -98.3%
Closed positions 208 34 +511.8%
Increased positions 0 114 -100.0%
Reduced positions 1 34 -97.1%
13F shares
Current Prev Q Change
Total value 21K 1.03B -100.0%
Total shares 20K 90.2M -100.0%
Total puts 0 1.88M -100.0%
Total calls 0 201.57K -100.0%
Total put/call ratio 9.3
Largest owners
Shares Value Change
Vivaldi Capital Management 20K $21K NEW
Proequities 0 $0 EXIT
Largest transactions
Shares Bought/sold Change
BLK BlackRock 0 -18.59M EXIT
Vanguard 0 -13.28M EXIT
Renaissance Technologies 0 -10.57M EXIT
BK Bank Of New York Mellon 0 -4.59M EXIT
Mason Street Advisors 0 -3.91M EXIT
IVZ Invesco 0 -3.88M EXIT
Dimensional Fund Advisors 0 -3.85M EXIT
STT State Street 0 -3.2M EXIT
Mirae Asset Global Investments 0 -1.94M EXIT
Geode Capital Management 0 -1.76M EXIT

Financial report summary

  • We have significant liquidity commitments.
  • 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.
  • We and our subsidiaries have a substantial amount of indebtedness.
  • Our high level of debt may adversely affect our ability to satisfy our obligations.
  • Servicing our indebtedness requires a significant amount of cash and we may not generate sufficient cash flow from our business to pay our substantial indebtedness.
  • 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 Cuts and Jobs Act of 2017 may increase the after-tax cost of debt financings.
  • Failure to maintain effective internal control over financial reporting could adversely affect us.
  • 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.
  • The domestic cigarette industry has experienced declining unit sales in recent periods, which could result in lower sales or higher costs for us.
  • 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 have increased as a result of the Florida Supreme Court’s ruling in Engle.
  • 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.
  • Potential new investments we may make are unidentified and may not succeed.
  • Goodwill and indefinite-lived intangible asset impairment charges may adversely affect our operating results and financial condition.
  • 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.
  • The price of our common stock may fluctuate significantly.
  • We have potentially dilutive securities outstanding.
Management Discussion
  • Our business segments were Tobacco and Real Estate for the three years ended December 31, 2019, 2018 and 2017. The Tobacco segment consists of the manufacture and sale of cigarettes. The Real Estate segment includes our investment in New Valley, which includes Douglas Elliman, Escena, Sagaponack, and investments in real estate ventures.
  • The accounting policies of the segments are the same as those described in the summary of significant accounting policies and can be found in Note 1 to our consolidated financial statements.
  • (2) Operating income includes $6,298 of income from MSA Settlement, and $685 of litigation settlement and judgment expense.
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