Cibc World Market Inc. Purchases New Shares in Hilton Grand Vacations Inc. $HGV

Cibc World Market Inc. purchased a new position in shares of Hilton Grand Vacations Inc. (NYSE:HGV) in the second quarter, HoldingsChannel.com reports. The firm purchased 71,059 shares of the company’s stock, valued at approximately $3,721,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in Hilton Grand Vacations in the first quarter valued at $1,541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Hilton Grand Vacations by 1.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,304 shares of the company’s stock worth $1,545,000 after buying an additional 615 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Hilton Grand Vacations by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,370 shares of the company’s stock worth $6,748,000 after buying an additional 3,705 shares during the period. Intech Investment Management LLC grew its holdings in shares of Hilton Grand Vacations by 24.5% during the first quarter. Intech Investment Management LLC now owns 43,541 shares of the company’s stock worth $1,629,000 after buying an additional 8,567 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Hilton Grand Vacations by 743.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 641 shares of the company’s stock valued at $27,000 after acquiring an additional 565 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hilton Grand Vacations

In other news, insider Charles R. Jr. Corbin sold 20,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $46.90, for a total value of $970,407.90. Following the completion of the sale, the insider directly owned 47,924 shares of the company’s stock, valued at $2,247,635.60. This trade represents a 30.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.

Hilton Grand Vacations Stock Performance

NYSE HGV opened at $44.91 on Thursday. The stock has a market capitalization of $3.49 billion, a P/E ratio of 25.37, a P/E/G ratio of 0.44 and a beta of 1.53. Hilton Grand Vacations Inc. has a 52-week low of $36.79 and a 52-week high of $55.40. The firm has a 50-day moving average price of $48.83 and a 200 day moving average price of $47.00. The company has a quick ratio of 3.20, a current ratio of 5.02 and a debt-to-equity ratio of 6.18.

Hilton Grand Vacations (NYSE:HGV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). Hilton Grand Vacations had a net margin of 2.86% and a return on equity of 20.40%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $0.54 EPS. Hilton Grand Vacations’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that Hilton Grand Vacations Inc. will post 4.61 EPS for the current year.

Hilton Grand Vacations announced that its board has approved a share repurchase plan on Thursday, August 20th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the company to buy up to 17% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on HGV. Zacks Research downgraded Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Truist Financial lifted their target price on Hilton Grand Vacations from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, May 18th. The Goldman Sachs Group dropped their target price on Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Susquehanna assumed coverage on Hilton Grand Vacations in a research note on Tuesday, August 18th. They set a “neutral” rating and a $50.00 price target for the company. Finally, Barclays decreased their price target on Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $54.89.

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.