Insider Selling: Hilton Grand Vacations (NYSE:HGV) Insider Sells $2,622,007.41 in Stock

Hilton Grand Vacations Inc. (NYSE:HGV) insider Charles Jr. Corbin sold 60,401 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $43.41, for a total value of $2,622,007.41. Following the completion of the transaction, the insider directly owned 47,924 shares in the company, valued at approximately $2,080,380.84. This represents a 55.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hilton Grand Vacations Stock Performance

NYSE:HGV traded up $0.49 during trading on Friday, reaching $44.09. The company’s stock had a trading volume of 1,562,116 shares, compared to its average volume of 1,022,191. Hilton Grand Vacations Inc. has a 12 month low of $33.99 and a 12 month high of $55.40. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. The firm has a 50 day moving average of $37.54 and a 200-day moving average of $44.51. The company has a debt-to-equity ratio of 5.29, a quick ratio of 3.35 and a current ratio of 5.15.

Hilton Grand Vacations (NYSE:HGV) last released its earnings results on Thursday, October 29th. The company reported $4.03 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $2.95. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hilton Grand Vacations had a return on equity of 39.73% and a net margin of 7.02%. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Research analysts expect that Hilton Grand Vacations Inc. will post 6.38 EPS for the current fiscal year.

Hilton Grand Vacations declared that its board has authorized a stock buyback plan on Thursday, August 20th that authorizes the company to repurchase $600 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 17% of its shares through open market purchases. Stock buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Hilton Grand Vacations

A number of large investors have recently modified their holdings of the company. Persistent Asset Partners Ltd purchased a new position in Hilton Grand Vacations during the second quarter valued at approximately $63,000. Covestor Ltd lifted its stake in Hilton Grand Vacations by 17.3% in the 3rd quarter. Covestor Ltd now owns 1,800 shares of the company’s stock worth $62,000 after purchasing an additional 265 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Hilton Grand Vacations by 3.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,322 shares of the company’s stock worth $482,000 after purchasing an additional 400 shares in the last quarter. Leonteq Securities AG lifted its stake in Hilton Grand Vacations by 189.7% in the 1st quarter. Leonteq Securities AG now owns 672 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares in the last quarter. Finally, Nykredit A S bought a new position in Hilton Grand Vacations in the 2nd quarter valued at $38,000. 97.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HGV shares. Barclays lowered their target price on Hilton Grand Vacations from $46.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday. Citigroup lowered Hilton Grand Vacations from a “market outperform” rating to a “market perform” rating in a report on Monday. Truist Financial lowered their price objective on Hilton Grand Vacations from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, September 10th. JPMorgan Chase & Co. dropped their price objective on shares of Hilton Grand Vacations from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Finally, Citizens Jmp lowered shares of Hilton Grand Vacations from a “market outperform” rating to a “market perform” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.10.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.

The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.