Hilton Grand Vacations (NYSE:HGV) Shares Gap Down – Here’s What Happened

Hilton Grand Vacations Inc. (NYSE:HGV)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $51.23, but opened at $48.84. Hilton Grand Vacations shares last traded at $48.9010, with a volume of 15,950 shares traded.

Analyst Upgrades and Downgrades

HGV has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Hilton Grand Vacations from $49.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Wells Fargo & Company reduced their target price on Hilton Grand Vacations from $49.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, April 16th. Zacks Research cut shares of Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Wall Street Zen upgraded Hilton Grand Vacations from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Truist Financial raised their target price on shares of Hilton Grand Vacations from $67.00 to $71.00 and gave the company a “buy” rating in a report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.89.

Hilton Grand Vacations Stock Up 0.1%

The firm has a fifty day simple moving average of $50.06 and a 200 day simple moving average of $46.71. The company has a market cap of $4.00 billion, a PE ratio of 26.96, a PEG ratio of 0.45 and a beta of 1.51. The company has a debt-to-equity ratio of 5.41, a quick ratio of 2.64 and a current ratio of 4.33.

Hilton Grand Vacations (NYSE:HGV) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.43. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Hilton Grand Vacations had a net margin of 3.16% and a return on equity of 17.62%. Hilton Grand Vacations’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. Equities research analysts predict that Hilton Grand Vacations Inc. will post 5.11 EPS for the current year.

Insider Activity at Hilton Grand Vacations

In other Hilton Grand Vacations news, insider Carlos Hernandez sold 5,595 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $46.69, for a total value of $261,230.55. Following the transaction, the insider directly owned 14,080 shares of the company’s stock, valued at $657,395.20. This trade represents a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark D. Wang sold 190,813 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $51.93, for a total value of $9,908,919.09. Following the transaction, the insider directly owned 904,241 shares in the company, valued at $46,957,235.13. This trade represents a 17.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 229,315 shares of company stock worth $11,738,497. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Hilton Grand Vacations

A number of hedge funds have recently bought and sold shares of HGV. Handelsbanken Fonder AB boosted its holdings in Hilton Grand Vacations by 4.7% in the second quarter. Handelsbanken Fonder AB now owns 22,209 shares of the company’s stock worth $1,163,000 after purchasing an additional 1,000 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Hilton Grand Vacations by 28.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,625 shares of the company’s stock worth $661,000 after purchasing an additional 2,775 shares during the period. Bank of America Corp DE lifted its stake in shares of Hilton Grand Vacations by 411.4% in the 1st quarter. Bank of America Corp DE now owns 566,855 shares of the company’s stock worth $22,175,000 after acquiring an additional 456,008 shares during the period. Amundi boosted its stake in Hilton Grand Vacations by 214.2% during the 1st quarter. Amundi now owns 20,490 shares of the company’s stock valued at $802,000 after purchasing an additional 13,969 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Hilton Grand Vacations by 20.6% during the first quarter. California State Teachers Retirement System now owns 69,769 shares of the company’s stock valued at $2,729,000 after buying an additional 11,932 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Hilton Grand Vacations Company Profile

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.