Readystate Asset Management LP Buys 10,422 Shares of Hilton Grand Vacations Inc. $HGV

Readystate Asset Management LP lifted its stake in Hilton Grand Vacations Inc. (NYSE:HGV) by 38.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,324 shares of the company’s stock after buying an additional 10,422 shares during the period. Readystate Asset Management LP’s holdings in Hilton Grand Vacations were worth $1,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HGV. Quantinno Capital Management LP raised its stake in Hilton Grand Vacations by 11.7% during the first quarter. Quantinno Capital Management LP now owns 15,609 shares of the company’s stock worth $611,000 after acquiring an additional 1,633 shares in the last quarter. SummitTX Capital L.P. acquired a new position in Hilton Grand Vacations in the first quarter valued at about $4,249,000. Rangeley Capital LLC boosted its position in Hilton Grand Vacations by 66.7% in the first quarter. Rangeley Capital LLC now owns 25,000 shares of the company’s stock valued at $978,000 after buying an additional 10,000 shares in the last quarter. Caxton Associates LLP bought a new stake in Hilton Grand Vacations during the first quarter worth about $221,000. Finally, Sei Investments Co. grew its stake in Hilton Grand Vacations by 32.7% during the first quarter. Sei Investments Co. now owns 120,442 shares of the company’s stock worth $4,712,000 after buying an additional 29,697 shares during the last quarter. Institutional investors own 97.23% of the company’s stock.

Hilton Grand Vacations Stock Down 2.3%

Shares of NYSE HGV opened at $51.52 on Thursday. Hilton Grand Vacations Inc. has a 52-week low of $36.79 and a 52-week high of $55.40. The company has a debt-to-equity ratio of 5.41, a quick ratio of 2.64 and a current ratio of 4.33. The stock has a market cap of $4.08 billion, a P/E ratio of 27.55, a P/E/G ratio of 0.51 and a beta of 1.51. The firm has a 50 day moving average price of $50.93 and a 200 day moving average price of $47.15.

Hilton Grand Vacations (NYSE:HGV) last announced 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. Hilton Grand Vacations had a net margin of 3.16% and a return on equity of 17.62%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts expect that Hilton Grand Vacations Inc. will post 4.66 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on HGV. The Goldman Sachs Group upgraded shares of Hilton Grand Vacations from a “sell” rating to a “neutral” rating and set a $55.00 target price for the company in a research note on Monday, June 1st. Truist Financial raised their price target on Hilton Grand Vacations from $67.00 to $71.00 and gave the company a “buy” rating in a report on Monday, May 18th. Wall Street Zen downgraded Hilton Grand Vacations from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Morgan Stanley boosted their price objective on Hilton Grand Vacations from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Finally, Zacks Research cut Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $57.22.

Insider Buying and Selling

In other Hilton Grand Vacations news, insider Charles R. Jr. Corbin sold 32,907 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.66, for a total value of $1,568,347.62. Following the completion of the transaction, the insider directly owned 68,615 shares of the company’s stock, valued at approximately $3,270,190.90. The trade was a 32.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark D. Wang sold 190,813 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 904,241 shares in the company, valued at approximately $46,957,235.13. This represents a 17.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 229,315 shares of company stock valued at $11,738,497. 3.10% of the stock is owned by company insiders.

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.