TrinityBridge Ltd Sells 586,160 Shares of Hilton Grand Vacations Inc. $HGV

Key Points

• TrinityBridge cut its Hilton Grand Vacations stake by 58.4%, selling 586,160 shares in the third quarter and retaining 417,280 shares valued at about $14.5 million.
• Hilton Grand Vacations reported quarterly EPS of $4.03, beating the $1.08 consensus, while revenue rose 50.8% year over year to $1.96 billion.
• The company has authorized up to $600 million in share repurchases, equivalent to as much as 17% of its shares. Analysts’ consensus rating is Hold, with a $49.10 average price target.

TrinityBridge Ltd reduced its holdings in shares of Hilton Grand Vacations Inc. (NYSE:HGV - Free Report) by 58.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,280 shares of the company's stock after selling 586,160 shares during the period. TrinityBridge Ltd owned about 0.54% of Hilton Grand Vacations worth $14,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new position in Hilton Grand Vacations in the 2nd quarter worth $63,000. Oregon Public Employees Retirement Fund grew its holdings in Hilton Grand Vacations by 3.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 12,322 shares of the company's stock valued at $482,000 after purchasing an additional 400 shares during the period. Leonteq Securities AG grew its holdings in Hilton Grand Vacations by 189.7% during the first quarter. Leonteq Securities AG now owns 672 shares of the company's stock valued at $26,000 after purchasing an additional 440 shares during the period. Nykredit A S bought a new stake in Hilton Grand Vacations during the second quarter valued at about $38,000. Finally, Allworth Financial LP bought a new stake in Hilton Grand Vacations during the second quarter valued at about $43,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

Hilton Grand Vacations Stock Up 1.6%

HGV opened at $41.66 on Wednesday. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 6.04, a price-to-earnings-growth ratio of 0.35 and a beta of 1.60. The company has a debt-to-equity ratio of 5.29, a quick ratio of 3.35 and a current ratio of 5.15. The firm's fifty day moving average is $37.59 and its 200 day moving average is $44.55. Hilton Grand Vacations Inc. has a fifty-two week low of $33.99 and a fifty-two week high of $55.40.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $4.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $2.95. Hilton Grand Vacations had a return on equity of 39.73% and a net margin of 7.02%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted $0.60 EPS. Hilton Grand Vacations's revenue for the quarter was up 50.8% compared to the same quarter last year. On average, sell-side analysts forecast that Hilton Grand Vacations Inc. will post 5.27 earnings per share for the current fiscal year.

Hilton Grand Vacations announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 20th that allows the company to buy back $600 million in outstanding shares. This buyback authorization allows the company to repurchase up to 17% of its stock through open market purchases. Share buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Hilton Grand Vacations

In other news, insider Charles Corbin, Jr. sold 20,691 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $46.90, for a total value of $970,407.90. Following the transaction, the insider directly owned 47,924 shares in the company, valued at $2,247,635.60. The trade was a 30.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on HGV shares. Truist Financial decreased their price objective on Hilton Grand Vacations from $71.00 to $69.00 and set a "buy" rating on the stock in a research note on Thursday, September 10th. Citizens Jmp cut Hilton Grand Vacations from a "market outperform" rating to a "market perform" rating in a research report on Monday. Wall Street Zen downgraded Hilton Grand Vacations from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Wells Fargo & Company reduced their target price on shares of Hilton Grand Vacations from $51.00 to $38.00 and set a "cautious" rating for the company in a report on Monday, October 19th. Finally, Weiss Ratings upgraded shares of Hilton Grand Vacations from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $49.10.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc NYSE: HGV is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.

The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.

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