BlackRock Inc. Decreases Stake in Hilton Grand Vacations Inc. (HGV)
BlackRock Inc. reduced its holdings in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,522,080 shares of the company’s stock after selling 201,945 shares during the quarter. BlackRock Inc. owned approximately 2.55% of Hilton Grand Vacations worth $90,947,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of HGV. Alliancebernstein L.P. grew its stake in shares of Hilton Grand Vacations by 7,430.7% during the 2nd quarter. Alliancebernstein L.P. now owns 2,245,594 shares of the company’s stock worth $80,976,000 after acquiring an additional 2,215,775 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Hilton Grand Vacations by 1,127.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,824,671 shares of the company’s stock worth $65,798,000 after acquiring an additional 1,676,070 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Hilton Grand Vacations by 138.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,559,415 shares of the company’s stock worth $56,233,000 after acquiring an additional 906,791 shares in the last quarter. Marshall Wace North America L.P. grew its stake in shares of Hilton Grand Vacations by 795.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 833,265 shares of the company’s stock worth $29,998,000 after acquiring an additional 740,173 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Hilton Grand Vacations during the 2nd quarter worth approximately $14,390,000. 97.86% of the stock is owned by institutional investors.
Shares of Hilton Grand Vacations Inc. (NYSE:HGV) opened at 40.03 on Friday. The firm has a market cap of $3.97 billion and a P/E ratio of 22.78. The stock has a 50 day moving average price of $38.14 and a 200 day moving average price of $35.87. Hilton Grand Vacations Inc. has a 12-month low of $24.60 and a 12-month high of $40.43.
Hilton Grand Vacations (NYSE:HGV) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $413.33 million. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts expect that Hilton Grand Vacations Inc. will post $1.94 earnings per share for the current year.
Several brokerages have recently weighed in on HGV. Zacks Investment Research cut shares of Hilton Grand Vacations from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Instinet reaffirmed a “buy” rating and set a $45.00 price target (up from $44.00) on shares of Hilton Grand Vacations in a research note on Thursday, August 3rd. Finally, Nomura raised their price target on shares of Hilton Grand Vacations from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $38.78.
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In related news, Director David William Johnson purchased 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $35.16 per share, for a total transaction of $984,480.00. Following the completion of the acquisition, the director now owns 33,000 shares of the company’s stock, valued at approximately $1,160,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.
Hilton Grand Vacations Company Profile
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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