Hilton Grand Vacations Inc. $HGV is Parsifal Capital Management LP's 2nd Largest Position

Key Points

• Parsifal Capital Management LP reduced its stake in Hilton Grand Vacations Inc. by 25.9%, owning 2,576,424 shares worth approximately $96.38 million, making it the fund's second largest position.
• Institute activity revealed that insider Mark D. Wang sold 46,364 shares for nearly $2.2 million, reducing his position by 5.47%.
• Hilton Grand Vacations reported earnings of $0.54 EPS last quarter, missing estimates by $0.24, and announced a stock repurchase plan indicating management believes shares are undervalued.

Parsifal Capital Management LP lowered its stake in shares of Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,576,424 shares of the company's stock after selling 899,437 shares during the period. Hilton Grand Vacations accounts for 8.3% of Parsifal Capital Management LP's investment portfolio, making the stock its 2nd biggest holding. Parsifal Capital Management LP owned approximately 2.81% of Hilton Grand Vacations worth $96,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Hilton Grand Vacations by 1.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,304 shares of the company's stock worth $1,545,000 after purchasing an additional 615 shares during the last quarter. Breach Inlet Capital Management LLC increased its stake in shares of Hilton Grand Vacations by 57.3% during the 1st quarter. Breach Inlet Capital Management LLC now owns 646,656 shares of the company's stock worth $24,191,000 after purchasing an additional 235,602 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Hilton Grand Vacations during the 1st quarter worth approximately $1,541,000. Magnetar Financial LLC purchased a new stake in shares of Hilton Grand Vacations during the 1st quarter worth approximately $220,000. Finally, State of Wyoming purchased a new stake in shares of Hilton Grand Vacations during the 1st quarter worth approximately $48,000. Hedge funds and other institutional investors own 97.23% of the company's stock.

Insider Buying and Selling

In related news, insider Mark D. Wang sold 46,364 shares of the stock in a transaction on 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 owned 801,681 shares of the company's stock, valued at $37,951,578.54. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HGV has been the topic of several recent research reports. The Goldman Sachs Group restated a "sell" rating and set a $39.00 target price on shares of Hilton Grand Vacations in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $59.00 target price on Hilton Grand Vacations and gave the stock a "buy" rating in a research report on Monday, August 4th. Truist Financial dropped their target price on Hilton Grand Vacations from $63.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Barclays increased their target price on Hilton Grand Vacations from $42.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Mizuho increased their target price on Hilton Grand Vacations from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.29.

Hilton Grand Vacations Price Performance

NYSE HGV traded down $0.32 on Tuesday, hitting $47.21. The stock had a trading volume of 726,569 shares, compared to its average volume of 1,148,500. Hilton Grand Vacations Inc. has a 52-week low of $30.59 and a 52-week high of $52.08. The company has a debt-to-equity ratio of 4.31, a quick ratio of 2.77 and a current ratio of 4.43. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 85.84, a price-to-earnings-growth ratio of 4.05 and a beta of 1.67. The firm has a 50-day moving average of $46.62 and a 200-day moving average of $40.97.

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

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

About Hilton Grand Vacations

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.