Hilton Grand Vacations Inc. (NYSE:HGV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Hilton Grand Vacations Company, LLC, a division of Hilton Worldwide, is engaged in hospitality business. It markets and operates vacation ownership resorts. The company also manages and serves club membership programs which include Hilton Grand Vacations Club(R) and The Hilton Club(R). It operates primarily in USA, Indonesia, Italy, Mexico, New Zealand, Portugal, Scotland and Thailand. Hilton Grand Vacations Company, LLC is headquartered in Orlando, Florida. “
Several other equities analysts have also weighed in on HGV. Nomura reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Hilton Grand Vacations in a research note on Monday, May 15th. Buckingham Research initiated coverage on Hilton Grand Vacations in a research note on Monday, June 19th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Instinet reaffirmed a “buy” rating and issued a $45.00 price objective (up from $44.00) on shares of Hilton Grand Vacations in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Hilton Grand Vacations presently has an average rating of “Buy” and an average target price of $38.56.
Hilton Grand Vacations (HGV) traded up 1.98% on Monday, reaching $36.00. 244,556 shares of the company’s stock were exchanged. Hilton Grand Vacations has a 1-year low of $24.60 and a 1-year high of $37.94. The company has a 50 day moving average price of $35.78 and a 200-day moving average price of $33.86. The company has a market capitalization of $3.57 billion and a PE ratio of 20.49.
Hilton Grand Vacations (NYSE:HGV) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $439 million during the quarter, compared to analyst estimates of $413.33 million. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that Hilton Grand Vacations will post $1.94 earnings per share for the current year.
In related news, major shareholder Hlt Holdco Iii Llc sold 9,650,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $35.40, for a total transaction of $341,610,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David William Johnson purchased 28,000 shares of Hilton Grand Vacations stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $35.16 per share, for a total transaction of $984,480.00. Following the completion of the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $1,160,280. The disclosure for this purchase can be found here. Insiders own 0.46% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HGV. Gateway Investment Advisers LLC lifted its position in Hilton Grand Vacations by 220.5% during the 2nd quarter. Gateway Investment Advisers LLC now owns 89,482 shares of the company’s stock worth $3,227,000 after acquiring an additional 61,562 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Hilton Grand Vacations by 129.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,200 shares of the company’s stock worth $223,000 after acquiring an additional 3,500 shares in the last quarter. First Quadrant L P CA acquired a new position in Hilton Grand Vacations during the 2nd quarter worth approximately $2,911,000. Highland Capital Management LLC acquired a new position in Hilton Grand Vacations during the 2nd quarter worth approximately $914,000. Finally, Acadian Asset Management LLC acquired a new position in Hilton Grand Vacations during the 2nd quarter worth approximately $625,000. 97.88% of the stock is currently owned by hedge funds and other institutional investors.
About Hilton Grand Vacations
Hilton Grand Vacations Inc is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.
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