Algert Global LLC Has $9.07 Million Position in Hilton Grand Vacations Inc. $HGV

Key Points

• Algert Global increased its Hilton Grand Vacations stake by 1,525% in the second quarter, purchasing 162,570 additional shares to own 173,230 shares valued at approximately $9.07 million.
• Analyst sentiment remains cautious: HGV has an average “Hold” rating and an average price target of $54.89, while several firms recently lowered their targets to between $46 and $54.
• Hilton Grand Vacations authorized a $600 million share-buyback program, allowing repurchases of up to 17% of outstanding shares. The company’s latest quarterly earnings and revenue slightly missed analyst estimates, despite revenue rising 7.3% year over year.

Algert Global LLC lifted its holdings in Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 1,525.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,230 shares of the company's stock after purchasing an additional 162,570 shares during the period. Algert Global LLC owned 0.22% of Hilton Grand Vacations worth $9,072,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Fifth Third Bancorp grew its stake in shares of Hilton Grand Vacations by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,449 shares of the company's stock worth $199,000 after acquiring an additional 238 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in Hilton Grand Vacations during the 2nd quarter valued at $63,000. Quadrant Capital Group LLC boosted its holdings in Hilton Grand Vacations by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,501 shares of the company's stock valued at $112,000 after purchasing an additional 291 shares during the period. Oregon Public Employees Retirement Fund grew its position 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 during the last quarter. Finally, Leonteq Securities AG grew its position 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 during the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Insiders Place Their Bets

In other news, insider Charles R. Jr. Corbin sold 20,691 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $46.90, for a total transaction of $970,407.90. Following the sale, the insider owned 47,924 shares in the company, valued at approximately $2,247,635.60. This represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark D. Wang sold 190,813 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $51.93, for a total value of $9,908,919.09. Following the completion of the sale, the insider owned 904,241 shares of the company's stock, valued at approximately $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. 3.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on HGV. Susquehanna assumed coverage on shares of Hilton Grand Vacations in a research note on Tuesday, August 18th. They issued a "neutral" rating and a $50.00 target price for the company. Morgan Stanley lowered their price target on Hilton Grand Vacations from $58.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 18th. Wall Street Zen cut Hilton Grand Vacations from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. The Goldman Sachs Group reduced their price objective on Hilton Grand Vacations from $55.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Finally, Barclays decreased their price objective on Hilton Grand Vacations from $51.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $54.89.

Hilton Grand Vacations Stock Down 0.9%

Shares of NYSE:HGV opened at $44.94 on Wednesday. The company's fifty day moving average is $48.97 and its 200-day moving average is $47.01. The company has a debt-to-equity ratio of 6.18, a quick ratio of 3.20 and a current ratio of 5.02. Hilton Grand Vacations Inc. has a 52 week low of $36.79 and a 52 week high of $55.40. The company has a market capitalization of $3.49 billion, a PE ratio of 25.39, a P/E/G ratio of 0.45 and a beta of 1.53.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.94 by ($0.05). Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the business earned $0.54 EPS. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts predict that Hilton Grand Vacations Inc. will post 4.61 earnings per share for the current fiscal year.

Hilton Grand Vacations declared that its Board of Directors has initiated a share buyback program on Thursday, August 20th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 17% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

About Hilton Grand Vacations

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.

Want to see what other hedge funds are holding HGV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hilton Grand Vacations Inc. (NYSE:HGV - Free Report).

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