Bank of America Corp DE Lowers Position in Hilton Grand Vacations Inc. (NYSE:HGV)

Bank of America Corp DE trimmed its stake in Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,247 shares of the company's stock after selling 134,974 shares during the quarter. Bank of America Corp DE owned approximately 0.26% of Hilton Grand Vacations worth $9,825,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its position in shares of Hilton Grand Vacations by 12.0% in the fourth quarter. Ameriprise Financial Inc. now owns 101,454 shares of the company's stock valued at $3,952,000 after buying an additional 10,846 shares during the last quarter. Nantahala Capital Management LLC lifted its holdings in Hilton Grand Vacations by 131.8% during the 4th quarter. Nantahala Capital Management LLC now owns 1,730,995 shares of the company's stock worth $67,422,000 after purchasing an additional 984,166 shares during the last quarter. Northern Trust Corp lifted its holdings in Hilton Grand Vacations by 10.3% during the 4th quarter. Northern Trust Corp now owns 892,091 shares of the company's stock worth $34,747,000 after purchasing an additional 83,334 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in Hilton Grand Vacations by 1.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 281,300 shares of the company's stock worth $10,957,000 after purchasing an additional 3,680 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Hilton Grand Vacations during the 4th quarter worth approximately $4,145,000. 97.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Charles R. Jr. Corbin sold 51,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $38.78, for a total transaction of $1,977,780.00. Following the transaction, the insider now directly owns 60,270 shares of the company's stock, valued at approximately $2,337,270.60. This represents a 45.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

Hilton Grand Vacations Trading Down 2.1%

HGV traded down $0.82 during midday trading on Wednesday, hitting $38.08. 384,702 shares of the company were exchanged, compared to its average volume of 902,540. The firm has a market capitalization of $3.49 billion, a P/E ratio of 43.39, a P/E/G ratio of 2.20 and a beta of 1.60. Hilton Grand Vacations Inc. has a 1-year low of $30.59 and a 1-year high of $44.99. The firm's 50 day moving average price is $36.69 and its 200-day moving average price is $39.16. The company has a quick ratio of 3.08, a current ratio of 4.83 and a debt-to-equity ratio of 3.32.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.40). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. Hilton Grand Vacations had a net margin of 2.01% and a return on equity of 16.44%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, equities analysts forecast that Hilton Grand Vacations Inc. will post 3.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HGV shares. Morgan Stanley dropped their price objective on Hilton Grand Vacations from $46.00 to $38.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Mizuho lifted their price target on Hilton Grand Vacations from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded Hilton Grand Vacations from a "sell" rating to a "hold" rating in a research note on Saturday, March 1st. The Goldman Sachs Group boosted their price objective on Hilton Grand Vacations from $30.00 to $34.00 and gave the stock a "sell" rating in a research report on Friday, May 2nd. Finally, Truist Financial boosted their price objective on Hilton Grand Vacations from $51.00 to $63.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $46.00.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc, a timeshare company, develops, markets, sells, manages, and operates the resorts, plans and ancillary reservation services under the Hilton Grand Vacations brand. It operates through Real Estate Sales and Financing, and Resort Operations and Club Management segments. Real Estate Sales and Financing segment market and sells the VOIs, and source VOIs through fee-for-service agreements with third-party developers; and provides consumer financing and services loans.