Jupiter Topco LLC purchased a new stake in shares of Hilton Grand Vacations Inc. (NYSE:HGV – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 105,709 shares of the company’s stock, valued at approximately $5,536,000. Jupiter Topco LLC owned 0.14% of Hilton Grand Vacations at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in Hilton Grand Vacations by 5.7% during the 4th quarter. Fifth Third Bancorp now owns 4,449 shares of the company’s stock valued at $199,000 after acquiring an additional 238 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Hilton Grand Vacations in the second quarter worth approximately $63,000. Quadrant Capital Group LLC lifted its position in shares of Hilton Grand Vacations by 13.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,501 shares of the company’s stock worth $112,000 after purchasing an additional 291 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Hilton Grand Vacations by 3.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,322 shares of the company’s stock worth $482,000 after purchasing an additional 400 shares during the period. Finally, Leonteq Securities AG boosted its holdings in shares of Hilton Grand Vacations by 189.7% during the first quarter. Leonteq Securities AG now owns 672 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Charles R. Jr. Corbin sold 20,691 shares of Hilton Grand Vacations stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total value of $970,407.90. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.10% of the company’s stock.
Hilton Grand Vacations Price Performance
Hilton Grand Vacations (NYSE:HGV – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.05). Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, research analysts expect that Hilton Grand Vacations Inc. will post 4.61 EPS for the current fiscal year.
Hilton Grand Vacations declared that its board has authorized a stock buyback plan on Thursday, August 20th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 17% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
HGV has been the topic of several research reports. Mizuho dropped their price objective on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Susquehanna began coverage on shares of Hilton Grand Vacations in a report on Tuesday, August 18th. They set a “neutral” rating and a $50.00 price target on the stock. Zacks Research downgraded shares of Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Truist Financial increased their price objective on Hilton Grand Vacations from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Morgan Stanley reduced their price objective on Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.89.
Check Out Our Latest Research Report on Hilton Grand Vacations
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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