Hilton Grand Vacations Inc. $HGV Stock Position Boosted by 683 Capital Management LLC

Key Points

• 683 Capital Management boosted its Hilton Grand Vacations stake by 19.2% in the fourth quarter, adding 120,000 shares and bringing its total to 745,000 shares worth about $33.3 million.
• Insiders have been selling shares recently, including major sales by Charles R. Jr. Corbin and Mark D. Wang, with insiders offloading $11.7 million worth of stock over the last three months.
• Hilton Grand Vacations beat quarterly expectations, reporting $0.99 EPS versus $0.56 expected and revenue of $1.29 billion, while analysts currently rate the stock a consensus Hold with a $56.89 target price.

683 Capital Management LLC increased its holdings in shares of Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 745,000 shares of the company's stock after buying an additional 120,000 shares during the quarter. Hilton Grand Vacations comprises approximately 1.5% of 683 Capital Management LLC's portfolio, making the stock its 7th biggest holding. 683 Capital Management LLC owned approximately 0.87% of Hilton Grand Vacations worth $33,339,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd purchased a new position in Hilton Grand Vacations during the third quarter worth about $4,386,000. Tudor Investment Corp ET AL acquired a new stake in Hilton Grand Vacations during the third quarter worth about $6,956,000. JPMorgan Chase & Co. increased its stake in Hilton Grand Vacations by 19.0% during the third quarter. JPMorgan Chase & Co. now owns 237,836 shares of the company's stock worth $9,944,000 after acquiring an additional 37,907 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in Hilton Grand Vacations by 69.7% during the fourth quarter. Iridian Asset Management LLC CT now owns 464,964 shares of the company's stock worth $20,807,000 after acquiring an additional 190,909 shares during the last quarter. Finally, TFJ Management LLC increased its stake in Hilton Grand Vacations by 17.1% during the third quarter. TFJ Management LLC now owns 266,171 shares of the company's stock worth $11,129,000 after acquiring an additional 38,780 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hilton Grand Vacations

In related news, insider Charles R. Jr. Corbin sold 32,907 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.66, for a total value of $1,568,347.62. Following the sale, the insider directly owned 68,615 shares in the company, valued at $3,270,190.90. This trade represents a 32.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $9,908,919.09. Following the completion of the sale, the insider owned 904,241 shares in the company, valued at approximately $46,957,235.13. This represents a 17.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 229,315 shares of company stock worth $11,738,497 in the last three months. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

HGV has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Hilton Grand Vacations in a research note on Friday, May 29th. Morgan Stanley increased their target price on Hilton Grand Vacations from $49.00 to $55.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. The Goldman Sachs Group upgraded Hilton Grand Vacations from a "sell" rating to a "neutral" rating and set a $55.00 target price for the company in a research note on Monday, June 1st. Wall Street Zen upgraded Hilton Grand Vacations from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Barclays increased their target price on Hilton Grand Vacations from $48.00 to $51.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hilton Grand Vacations has an average rating of "Hold" and a consensus target price of $56.89.

Hilton Grand Vacations Trading Up 1.4%

NYSE:HGV opened at $52.06 on Thursday. The company has a quick ratio of 2.64, a current ratio of 4.33 and a debt-to-equity ratio of 5.41. The business's 50 day moving average is $47.95 and its two-hundred day moving average is $45.66. Hilton Grand Vacations Inc. has a 52 week low of $36.79 and a 52 week high of $53.82. The company has a market cap of $4.13 billion, a PE ratio of 27.84, a P/E/G ratio of 0.46 and a beta of 1.50.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.43. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Hilton Grand Vacations had a return on equity of 17.62% and a net margin of 3.16%.Hilton Grand Vacations's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. On average, analysts predict that Hilton Grand Vacations Inc. will post 5.11 EPS for the current year.

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.

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