683 Capital Management LLC Cuts Stake in Hilton Grand Vacations Inc. $HGV

Key Points

• 683 Capital Management LLC has reduced its stake in Hilton Grand Vacations Inc. by 19.4%, selling 184,000 shares and now holding 766,000 shares, which accounts for approximately 2.0% of its portfolio.
• Hilton Grand Vacations reported a loss in quarterly earnings, with an EPS of $0.54, falling short of analyst estimates of $0.78, and revenues of $1.27 billion compared to expected $1.38 billion.
• Institutional investors hold a significant majority of Hilton Grand Vacations' stock, owning 97.23% of the company's shares.

683 Capital Management LLC lowered its position in shares of Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 19.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 766,000 shares of the company's stock after selling 184,000 shares during the quarter. Hilton Grand Vacations accounts for approximately 2.0% of 683 Capital Management LLC's investment portfolio, making the stock its 7th largest position. 683 Capital Management LLC owned approximately 0.84% of Hilton Grand Vacations worth $28,656,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Signaturefd LLC boosted its stake in Hilton Grand Vacations by 136.9% during the first quarter. Signaturefd LLC now owns 860 shares of the company's stock valued at $32,000 after buying an additional 497 shares in the last quarter. UMB Bank n.a. boosted its stake in Hilton Grand Vacations by 106.8% during the first quarter. UMB Bank n.a. now owns 1,065 shares of the company's stock valued at $40,000 after buying an additional 550 shares in the last quarter. State of Wyoming purchased a new stake in shares of Hilton Grand Vacations during the first quarter valued at $48,000. Bayforest Capital Ltd purchased a new stake in shares of Hilton Grand Vacations during the first quarter valued at $73,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Hilton Grand Vacations in the 1st quarter valued at $73,000. Institutional investors own 97.23% of the company's stock.

Insider Buying and Selling

In other Hilton Grand Vacations news, insider Mark D. Wang sold 46,364 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $47.34, for a total value of $2,194,871.76. Following the transaction, the insider directly owned 801,681 shares of the company's stock, valued at $37,951,578.54. This represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $59.00 price objective on Hilton Grand Vacations and gave the stock a "buy" rating in a report on Monday, August 4th. The Goldman Sachs Group restated a "sell" rating and set a $39.00 price target on shares of Hilton Grand Vacations in a report on Friday, August 1st. Truist Financial decreased their price objective on shares of Hilton Grand Vacations from $63.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Mizuho lifted their price objective on shares of Hilton Grand Vacations from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Barclays increased their target price on Hilton Grand Vacations from $42.00 to $49.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.29.

Hilton Grand Vacations Stock Down 1.9%

Hilton Grand Vacations stock traded down $0.92 during trading hours on Friday, hitting $47.07. The company had a trading volume of 742,404 shares, compared to its average volume of 1,130,904. Hilton Grand Vacations Inc. has a fifty-two week low of $30.59 and a fifty-two week high of $52.08. The company has a debt-to-equity ratio of 4.31, a current ratio of 4.43 and a quick ratio of 2.77. The firm has a market capitalization of $4.19 billion, a P/E ratio of 85.58, a price-to-earnings-growth ratio of 4.09 and a beta of 1.67. The firm's fifty day moving average is $46.42 and its 200-day moving average is $40.90.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.24). Hilton Grand Vacations had a net margin of 1.14% and a return on equity of 9.71%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $0.62 EPS. The company's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that Hilton Grand Vacations Inc. will post 3.39 earnings per share for the current year.

Hilton Grand Vacations announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 13th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.