Hilton Grand Vacations Inc. $HGV Position Boosted by Bank of America Corp DE

Key Points

• Bank of America increased its Hilton Grand Vacations stake by 411.4% in the first quarter, bringing its holdings to 566,855 shares worth approximately $22.2 million. Institutional investors collectively own 97.23% of the company.
• Insiders sold a combined 244,411 shares worth about $12.4 million over the past 90 days, including sizable sales by Charles Corbin and Mark Wang.
• Analyst sentiment is mixed but leans toward Hold, with a consensus price target of $54.89. HGV recently traded at $43.61 after reporting quarterly EPS and revenue slightly below expectations, despite 7.3% year-over-year revenue growth.

Bank of America Corp DE lifted its position in shares of Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 411.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 566,855 shares of the company's stock after acquiring an additional 456,008 shares during the period. Bank of America Corp DE owned about 0.71% of Hilton Grand Vacations worth $22,175,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Amundi lifted its position in shares of Hilton Grand Vacations by 214.2% in the 1st quarter. Amundi now owns 20,490 shares of the company's stock worth $802,000 after buying an additional 13,969 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Hilton Grand Vacations by 20.6% during the 1st quarter. California State Teachers Retirement System now owns 69,769 shares of the company's stock valued at $2,729,000 after buying an additional 11,932 shares during the last quarter. Readystate Asset Management LP grew its position in shares of Hilton Grand Vacations by 38.7% during the 1st quarter. Readystate Asset Management LP now owns 37,324 shares of the company's stock valued at $1,460,000 after buying an additional 10,422 shares during the last quarter. 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 during the period. Finally, SummitTX Capital L.P. acquired a new stake in Hilton Grand Vacations during the first quarter worth about $4,249,000. 97.23% of the stock is currently owned by institutional investors.

Insider Transactions at Hilton Grand Vacations

In other news, insider Charles R. Jr. Corbin sold 20,691 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 47,924 shares in the company, valued at $2,247,635.60. This trade represents a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark D. Wang sold 190,813 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $51.93, for a total transaction of $9,908,919.09. Following the transaction, the insider owned 904,241 shares in the company, valued at $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. Insiders have sold a total of 244,411 shares of company stock worth $12,447,675 over the last 90 days. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial lifted their target price on Hilton Grand Vacations from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Susquehanna started coverage on Hilton Grand Vacations in a research report on Tuesday. They set a "neutral" rating and a $50.00 price target on the stock. Zacks Research downgraded Hilton Grand Vacations from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 9th. Morgan Stanley reduced 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 report on Tuesday. Finally, Wall Street Zen downgraded Hilton Grand Vacations from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $54.89.

Hilton Grand Vacations Price Performance

NYSE HGV opened at $43.61 on Wednesday. The company has a 50-day moving average price of $49.55 and a two-hundred day moving average price of $47.02. Hilton Grand Vacations Inc. has a 52 week low of $36.79 and a 52 week high of $55.40. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The company has a current ratio of 5.02, a quick ratio of 3.20 and a debt-to-equity ratio of 6.18.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Analysts forecast that Hilton Grand Vacations Inc. will post 4.79 EPS for the current year.

Hilton Grand Vacations 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.

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