Hilton Grand Vacations (NYSE:HGV) to Buyback $600.00 million in Stock

Hilton Grand Vacations (NYSE:HGV) announced that its Board of Directors has approved a stock buyback program on Thursday, August 20th, RTT News reports. The company plans to buyback $600.00 million in shares. This buyback authorization permits the company to purchase up to 17% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Hilton Grand Vacations Trading Up 0.5%

Shares of HGV stock opened at $45.05 on Friday. Hilton Grand Vacations has a twelve month low of $36.79 and a twelve month high of $55.40. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 0.44 and a beta of 1.53. The company has a current ratio of 5.02, a quick ratio of 3.20 and a debt-to-equity ratio of 6.18. The company’s 50-day moving average price is $49.22 and its 200-day moving average price is $47.01.

Hilton Grand Vacations (NYSE:HGV) last posted its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.05). The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.Hilton Grand Vacations’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, equities analysts predict that Hilton Grand Vacations will post 4.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HGV has been the subject of several recent research reports. Morgan Stanley reduced 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 note on Tuesday, August 18th. The Goldman Sachs Group decreased their price target on shares of Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Barclays dropped their price objective on shares of Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Hilton Grand Vacations in a research note on Friday, May 29th. Finally, Truist Financial boosted their target price on Hilton Grand Vacations from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $54.89.

Insider Buying and Selling

In other news, insider Mark D. Wang sold 190,813 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $51.93, for a total transaction of $9,908,919.09. Following the completion of the sale, the insider owned 904,241 shares in the company, valued at approximately $46,957,235.13. The trade was a 17.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles R. Jr. Corbin sold 20,691 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total transaction of $970,407.90. Following the completion of the transaction, the insider owned 47,924 shares of the company’s stock, valued at approximately $2,247,635.60. The trade was a 30.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is currently owned by company insiders.

About Hilton Grand Vacations

Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.

In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.