Pinebridge Investments L.P. Has $2.79 Million Stake in ILG Inc. (ILG)
Pinebridge Investments L.P. cut its holdings in shares of ILG Inc. (NASDAQ:ILG) by 25.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,468 shares of the business services provider’s stock after selling 34,885 shares during the period. Pinebridge Investments L.P. owned approximately 0.08% of ILG worth $2,789,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ILG. Nationwide Fund Advisors boosted its position in shares of ILG by 9.8% during the first quarter. Nationwide Fund Advisors now owns 90,351 shares of the business services provider’s stock worth $1,894,000 after buying an additional 8,033 shares during the period. Janney Montgomery Scott LLC bought a new stake in ILG during the first quarter worth approximately $243,000. Strs Ohio raised its holdings in ILG by 63.6% during the first quarter. Strs Ohio now owns 5,401 shares of the business services provider’s stock worth $113,000 after purchasing an additional 2,100 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in ILG by 22.8% during the first quarter. Russell Investments Group Ltd. now owns 63,870 shares of the business services provider’s stock worth $1,338,000 after purchasing an additional 11,849 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in ILG by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 151,622 shares of the business services provider’s stock worth $3,176,000 after purchasing an additional 8,606 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.
Several brokerages recently commented on ILG. Zacks Investment Research cut ILG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub raised ILG from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Imperial Capital boosted their target price on ILG from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.00.
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Shares of ILG Inc. (NASDAQ ILG) opened at 26.53 on Friday. The company has a market cap of $3.31 billion, a PE ratio of 25.53 and a beta of 1.48. The company’s 50-day moving average price is $26.03 and its 200 day moving average price is $24.87. ILG Inc. has a one year low of $15.94 and a one year high of $28.99.
ILG (NASDAQ:ILG) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. ILG had a net margin of 7.32% and a return on equity of 11.41%. The firm had revenue of $450.00 million for the quarter, compared to analysts’ expectations of $432.86 million. The firm’s revenue was up 51.5% on a year-over-year basis. Equities analysts forecast that ILG Inc. will post $1.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Tuesday, September 5th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 2.27%. ILG’s payout ratio is presently 57.69%.
ILG, Inc, formerly Interval Leisure Group, Inc, is a provider of professionally delivered vacation experiences. The Company is a global licensee for the Hyatt, Westin and Sheraton brands in vacation ownership. The Company operates through two segments: Exchange and Rental, and Vacation Ownership. Its Exchange and Rental segment offers access to vacation accommodations and other travel-related transactions and services to leisure travelers, by providing vacation exchange services and vacation rental, working with resort developers and operating vacation rental properties.
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