Hilton Grand Vacations Inc. (HGV) Position Lifted by Utah Retirement Systems
Utah Retirement Systems lifted its stake in Hilton Grand Vacations Inc. (NYSE:HGV) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,860 shares of the company’s stock after acquiring an additional 1,300 shares during the period. Utah Retirement Systems’ holdings in Hilton Grand Vacations were worth $392,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Beach Point Capital Management LP raised its stake in shares of Hilton Grand Vacations by 5.9% in the 2nd quarter. Beach Point Capital Management LP now owns 901,338 shares of the company’s stock valued at $32,502,000 after acquiring an additional 50,000 shares in the last quarter. Marshall Wace North America L.P. increased its position in Hilton Grand Vacations by 795.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 833,265 shares of the company’s stock worth $29,998,000 after buying an additional 740,173 shares during the period. Victory Capital Management Inc. bought a new position in Hilton Grand Vacations in the 2nd quarter worth approximately $14,390,000. Bank of New York Mellon Corp increased its position in Hilton Grand Vacations by 33.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,361 shares of the company’s stock worth $8,668,000 after buying an additional 60,140 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Hilton Grand Vacations by 9.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 165,611 shares of the company’s stock worth $5,972,000 after buying an additional 14,272 shares during the period. 97.88% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director David William Johnson bought 28,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $35.16 per share, for a total transaction of $984,480.00. Following the completion of the purchase, the director now owns 33,000 shares in the company, valued at $1,160,280. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hlt Holdco Iii Llc sold 9,650,000 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $35.40, for a total value of $341,610,000.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Several brokerages have commented on HGV. Instinet reaffirmed a “buy” rating and issued a $45.00 price target (up from $44.00) on shares of Hilton Grand Vacations in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Hilton Grand Vacations from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Nomura lifted their price target on Hilton Grand Vacations from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Buckingham Research began coverage on Hilton Grand Vacations in a research report on Monday, June 19th. They issued a “buy” rating and a $42.00 price target on the stock. Nine analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $38.44.
Hilton Grand Vacations Inc. (NYSE:HGV) opened at 36.42 on Friday. The company has a market capitalization of $3.61 billion and a P/E ratio of 20.73. The firm has a 50-day moving average price of $36.13 and a 200 day moving average price of $33.55. Hilton Grand Vacations Inc. has a 12 month low of $24.60 and a 12 month high of $36.61.
Hilton Grand Vacations (NYSE:HGV) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $413.33 million. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts expect that Hilton Grand Vacations Inc. will post $1.94 EPS for the current year.
About Hilton Grand Vacations
Hilton Grand Vacations Inc is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.
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