Engineers Gate Manager LP Has $2.17 Million Stock Position in Hilton Grand Vacations Inc. $HGV

Key Points

• Engineers Gate Manager LP increased its Hilton Grand Vacations stake by 690.7% in the second quarter, ending with 41,535 shares valued at approximately $2.17 million. Institutional investors collectively own 97.23% of HGV.
• Analyst sentiment is mixed but leans neutral: HGV has a consensus “Hold” rating and a $54.67 target price, while several firms recently lowered their price targets. The stock opened at $38.60, near its 52-week low.
• Hilton Grand Vacations missed quarterly earnings and revenue estimates, though revenue rose 7.3% year over year. The company also authorized a $600 million share-repurchase program, allowing it to buy back up to 17% of outstanding shares.

Engineers Gate Manager LP boosted its position in Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 690.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,535 shares of the company's stock after acquiring an additional 36,282 shares during the period. Engineers Gate Manager LP owned 0.05% of Hilton Grand Vacations worth $2,175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in Hilton Grand Vacations in the 2nd quarter valued at $38,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Hilton Grand Vacations during the second quarter worth $450,000. California State Teachers Retirement System raised its holdings in Hilton Grand Vacations by 4,985.3% during the second quarter. California State Teachers Retirement System now owns 3,547,963 shares of the company's stock worth $185,807,000 after buying an additional 3,478,194 shares during the last quarter. BTG Pactual Asset Management US LLC bought a new position in shares of Hilton Grand Vacations in the second quarter valued at $286,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Hilton Grand Vacations by 2.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 152,403 shares of the company's stock valued at $7,981,000 after buying an additional 4,313 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HGV shares. Barclays decreased their target price on shares of Hilton Grand Vacations from $51.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. Wall Street Zen cut shares of Hilton Grand Vacations from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Truist Financial cut their price target on Hilton Grand Vacations from $71.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday. Mizuho decreased their price objective on Hilton Grand Vacations from $75.00 to $74.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Finally, Morgan Stanley lowered their price objective on Hilton Grand Vacations from $58.00 to $54.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hilton Grand Vacations has a consensus rating of "Hold" and a consensus target price of $54.67.

Hilton Grand Vacations Stock Performance

NYSE HGV opened at $38.60 on Tuesday. Hilton Grand Vacations Inc. has a 1 year low of $36.79 and a 1 year high of $55.40. The company has a debt-to-equity ratio of 6.18, a current ratio of 5.02 and a quick ratio of 3.20. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 0.39 and a beta of 1.50. The company has a fifty day moving average price of $45.85 and a 200-day moving average price of $46.46.

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

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

Insider Transactions at Hilton Grand Vacations

In other Hilton Grand Vacations news, insider Charles Corbin, Jr. sold 20,691 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $46.90, for a total value of $970,407.90. Following the completion of the sale, the insider owned 47,924 shares in the company, valued at approximately $2,247,635.60. This trade represents a 30.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company's stock.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc NYSE: HGV is a vacation ownership company that develops, markets, sells and manages timeshare interests and related vacation experiences. Its products generally provide members with an allotment of vacation time or points that can be used at participating resorts and accommodations.

The company serves vacation owners through resort properties and membership programs under brands including Hilton Grand Vacations, The Hilton Club and HGV Max. Its offerings may include access to resort accommodations, exchange programs, travel services and other member benefits.

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