Key Points
- Insider Mark Wang bought 12,200 Hilton Grand Vacations shares at an average price of $40.92, investing about $499,000 and increasing his stake by 1.35% to 916,715 shares.
- The company reported quarterly EPS of $4.03, well above the $1.08 consensus estimate, while revenue rose 50.8% year over year to $1.96 billion.
- Hilton Grand Vacations has authorized up to $600 million in share repurchases, while analysts’ overall rating is “Hold” with an average price target of $49.10.
Hilton Grand Vacations Inc. (NYSE:HGV - Get Free Report) insider Mark Wang acquired 12,200 shares of the business's stock in a transaction on Monday, November 2nd. The shares were bought at an average cost of $40.92 per share, with a total value of $499,224.00. Following the completion of the acquisition, the insider owned 916,715 shares of the company's stock, valued at approximately $37,511,977.80. This trade represents a 1.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Hilton Grand Vacations Stock Up 5.1%
Shares of NYSE:HGV opened at $43.89 on Thursday. Hilton Grand Vacations Inc. has a 52 week low of $33.99 and a 52 week high of $55.40. The company has a debt-to-equity ratio of 5.29, a quick ratio of 3.35 and a current ratio of 5.15. The company's fifty day moving average is $37.57 and its 200-day moving average is $44.53. The company has a market capitalization of $3.33 billion, a PE ratio of 8.46, a P/E/G ratio of 0.30 and a beta of 1.60.
Hilton Grand Vacations (NYSE:HGV - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $4.03 earnings per share for the quarter, topping the consensus estimate of $1.08 by $2.95. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.39 billion. Hilton Grand Vacations had a net margin of 7.02% and a return on equity of 39.73%. The firm's quarterly revenue was up 50.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Equities research analysts predict that Hilton Grand Vacations Inc. will post 6.38 earnings per share for the current fiscal year.
Hilton Grand Vacations declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 20th that permits the company to repurchase $600 million in shares. This buyback authorization permits the company to purchase up to 17% of its stock through open market purchases. Share buyback plans are typically an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages have weighed in on HGV. Wall Street Zen cut shares of Hilton Grand Vacations from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Truist Financial cut their target price on shares of Hilton Grand Vacations from $71.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, September 10th. Citizens Jmp downgraded Hilton Grand Vacations from a "market outperform" rating to a "market perform" rating in a report on Monday. Wells Fargo & Company reduced their target price on Hilton Grand Vacations from $51.00 to $38.00 and set a "cautious" rating on the stock in a report on Monday, October 19th. Finally, Barclays decreased their price target on Hilton Grand Vacations from $46.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Monday. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $49.10.
Check Out Our Latest Stock Analysis on Hilton Grand Vacations
Hedge Funds Weigh In On Hilton Grand Vacations
Several hedge funds have recently added to or reduced their stakes in HGV. Fulcrum Asset Management LLP increased its position in Hilton Grand Vacations by 58.2% in the third quarter. Fulcrum Asset Management LLP now owns 5,180 shares of the company's stock worth $185,000 after purchasing an additional 1,906 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Hilton Grand Vacations by 4.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,070 shares of the company's stock valued at $838,000 after purchasing an additional 1,018 shares during the period. Covestor Ltd lifted its position in Hilton Grand Vacations by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,800 shares of the company's stock valued at $62,000 after purchasing an additional 265 shares during the period. State of Wyoming boosted its stake in shares of Hilton Grand Vacations by 71.9% in the 3rd quarter. State of Wyoming now owns 10,226 shares of the company's stock valued at $354,000 after purchasing an additional 4,278 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its stake in shares of Hilton Grand Vacations by 54.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 711,664 shares of the company's stock valued at $24,666,000 after purchasing an additional 251,068 shares during the last quarter. Institutional investors own 97.23% of the company's stock.
Hilton Grand Vacations Company Profile
(
Get Free Report)
Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.
The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.
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