Key Points
- Hilton Grand Vacations insider Charles Jr. Corbin sold 60,401 shares for about $2.62 million, reducing his direct ownership by 55.76%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company reported quarterly EPS of $4.03, beating the $1.08 consensus, while revenue of $1.96 billion exceeded expectations and rose 50.8% year over year.
- Hilton Grand Vacations has authorized up to $600 million in share repurchases, covering as much as 17% of outstanding shares. Analysts’ consensus rating is Hold, with an average price target of $49.10.
Hilton Grand Vacations Inc. (NYSE:HGV - Get Free Report) insider Charles Jr. Corbin sold 60,401 shares of the business's stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $43.41, for a total transaction of $2,622,007.41. Following the transaction, the insider directly owned 47,924 shares in the company, valued at approximately $2,080,380.84. The trade was a 55.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Hilton Grand Vacations Stock Performance
Shares of HGV stock opened at $44.09 on Friday. Hilton Grand Vacations Inc. has a 12-month low of $33.99 and a 12-month high of $55.40. The company has a current ratio of 5.15, a quick ratio of 3.35 and a debt-to-equity ratio of 5.29. The company has a market cap of $3.34 billion, a PE ratio of 8.50, a PEG ratio of 0.35 and a beta of 1.60. The business's fifty day simple moving average is $37.55 and its 200-day simple moving average is $44.51.
Hilton Grand Vacations (NYSE:HGV - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $4.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $2.95. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.39 billion. Hilton Grand Vacations had a return on equity of 39.73% and a net margin of 7.02%. Hilton Grand Vacations's quarterly revenue was up 50.8% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Analysts expect 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 allows the company to buy back $600 million in outstanding shares. This repurchase authorization allows the company to purchase up to 17% of its stock through open market purchases. Share repurchase plans are often a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on HGV. Mizuho reduced their price objective on Hilton Grand Vacations from $75.00 to $74.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Zacks Research raised shares of Hilton Grand Vacations from a "strong sell" rating to a "hold" rating in a report on Tuesday. Morgan Stanley cut 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. Citigroup lowered Hilton Grand Vacations from a "market outperform" rating to a "market perform" rating in a research report on Monday, November 2nd. Finally, Wells Fargo & Company dropped 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. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $49.10.
Read Our Latest Research Report on Hilton Grand Vacations
Institutional Investors Weigh In On Hilton Grand Vacations
Large investors have recently made changes to their positions in the stock. Leonteq Securities AG increased its position in Hilton Grand Vacations by 189.7% during the 1st quarter. Leonteq Securities AG now owns 672 shares of the company's stock worth $26,000 after purchasing an additional 440 shares in the last quarter. Nykredit A S purchased a new position in Hilton Grand Vacations in the 2nd quarter worth $38,000. Allworth Financial LP bought a new position in Hilton Grand Vacations during the 2nd quarter valued at approximately $43,000. Covestor Ltd boosted its holdings in shares of 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 buying an additional 265 shares in the last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Hilton Grand Vacations in the second quarter worth $63,000. Institutional investors and hedge funds own 97.23% of the company's stock.
Hilton Grand Vacations Company Profile
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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.
Further Reading
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