Hilton Grand Vacations (NYSE:HGV) Insider Charles Jr. Corbin Sells 60,401 Shares of Company Stock

Hilton Grand Vacations Inc. (NYSE:HGV) insider Charles Jr. Corbin sold 60,401 shares of the company’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 completion of the sale, the insider directly owned 47,924 shares in the company, valued at approximately $2,080,380.84. This represents a 55.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Trading Up 1.1%

Shares of HGV traded up $0.49 during trading hours on Friday, hitting $44.09. 1,562,116 shares of the stock were exchanged, compared to its average volume of 1,022,191. Hilton Grand Vacations Inc. has a fifty-two week low of $33.99 and a fifty-two week high of $55.40. The business has a 50-day moving average of $37.54 and a 200-day moving average of $44.51. The firm has a market capitalization of $3.34 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.15 and a quick ratio of 3.35.

Hilton Grand Vacations (NYSE:HGV) last released its earnings results on Thursday, October 29th. The company reported $4.03 earnings per share (EPS) for the quarter, beating 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%. Hilton Grand Vacations’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, research analysts expect that Hilton Grand Vacations Inc. will post 6.38 EPS for the current year.

Hilton Grand Vacations declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 20th that allows the company to buy back $600 million in shares. This repurchase authorization allows the company to repurchase up to 17% of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HGV shares. Zacks Research upgraded Hilton Grand Vacations from a “strong sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Hilton Grand Vacations from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. The Goldman Sachs Group dropped their target price on shares of Hilton Grand Vacations from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Truist Financial reduced their price target on shares of Hilton Grand Vacations from $71.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, September 10th. Finally, Weiss Ratings upgraded shares of Hilton Grand Vacations from a “sell (d+)” rating to a “hold (c)” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.10.

Institutional Trading of Hilton Grand Vacations

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Hilton Grand Vacations in the second quarter valued at about $422,842,000. Dimensional Fund Advisors LP lifted its position in shares of Hilton Grand Vacations by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,869,731 shares of the company’s stock valued at $151,375,000 after purchasing an additional 60,624 shares in the last quarter. Parsifal Capital Management LP purchased a new position in Hilton Grand Vacations during the second quarter worth about $108,863,038. TrinityBridge Ltd purchased a new position in shares of Hilton Grand Vacations in the 2nd quarter worth approximately $52,540,000. 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 worth $24,666,000 after buying an additional 251,068 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

About Hilton Grand Vacations

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.