TrinityBridge Ltd bought a new position in shares of Hilton Grand Vacations Inc. (NYSE:HGV – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,003,440 shares of the company’s stock, valued at approximately $52,540,000. Hilton Grand Vacations comprises approximately 1.4% of TrinityBridge Ltd’s investment portfolio, making the stock its 20th largest holding. TrinityBridge Ltd owned 1.29% of Hilton Grand Vacations at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HGV. Virtus Advisers LLC bought a new stake in Hilton Grand Vacations in the 2nd quarter valued at about $573,000. Great Lakes Advisors LLC purchased a new stake in Hilton Grand Vacations in the 2nd quarter valued at about $2,531,000. Robotti Robert purchased a new stake in shares of Hilton Grand Vacations during the second quarter valued at approximately $786,000. Danske Bank A S bought a new stake in shares of Hilton Grand Vacations during the 2nd quarter worth $6,796,000. Finally, BlackRock Inc. bought a new stake in Hilton Grand Vacations in the second quarter worth about $422,842,000. Institutional investors and hedge funds own 97.23% of the company’s stock.
Analyst Upgrades and Downgrades
HGV has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Morgan Stanley decreased their price target on shares of Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barclays decreased their price objective on Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Hilton Grand Vacations in a research report on Friday, May 29th. Finally, Mizuho cut their target price on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.89.
Hilton Grand Vacations Stock Down 1.1%
HGV opened at $44.83 on Friday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 0.45 and a beta of 1.53. Hilton Grand Vacations Inc. has a twelve month low of $36.79 and a twelve month high of $55.40. The company has a quick ratio of 3.20, a current ratio of 5.02 and a debt-to-equity ratio of 6.18. The firm has a 50 day moving average price of $49.33 and a 200-day moving average price of $47.03.
Hilton Grand Vacations (NYSE:HGV – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). Hilton Grand Vacations had a net margin of 2.86% and a return on equity of 20.40%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Hilton Grand Vacations Inc. will post 4.61 earnings per share for the current year.
Hilton Grand Vacations announced that its Board of Directors has initiated a share buyback plan on Thursday, August 20th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the company to purchase up to 17% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Insider Activity at Hilton Grand Vacations
In related news, insider Mark D. Wang sold 190,813 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $51.93, for a total transaction of $9,908,919.09. Following the completion of the transaction, the insider directly owned 904,241 shares of the company’s stock, valued at approximately $46,957,235.13. This trade represents a 17.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles R. Jr. Corbin sold 20,691 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $46.90, for a total value of $970,407.90. Following the transaction, the insider owned 47,924 shares of the company’s stock, valued at approximately $2,247,635.60. The trade was a 30.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.10% of the company’s stock.
Hilton Grand Vacations Company Profile
Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.
In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.
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