Insider Buying: Hilton Grand Vacations (NYSE:HGV) Insider Purchases 12,200 Shares of Stock

Key Points

• Insider Mark Wang bought 12,200 Hilton Grand Vacations shares at an average price of $40.92, spending about $499,224 and increasing his direct stake to 916,715 shares.
• Hilton Grand Vacations reported quarterly EPS of $4.03, beating the $1.08 consensus estimate, while revenue rose 50.8% year over year to $1.96 billion.
• The company has authorized a $600 million share repurchase plan, allowing it to buy back up to 17% of its shares. Analysts’ consensus rating is Hold, with an average price target of $49.10.

Hilton Grand Vacations Inc. (NYSE:HGV - Get Free Report) insider Mark Wang bought 12,200 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $40.92 per share, with a total value of $499,224.00. Following the acquisition, the insider directly owned 916,715 shares of the company's stock, valued at approximately $37,511,977.80. This trade represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hilton Grand Vacations Stock Performance

NYSE:HGV traded up $2.13 during midday trading on Wednesday, hitting $43.89. The company's stock had a trading volume of 2,030,315 shares, compared to its average volume of 1,016,300. Hilton Grand Vacations Inc. has a fifty-two week low of $33.99 and a fifty-two week high of $55.40. The firm's 50 day moving average is $37.59 and its 200-day moving average is $44.55. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.15 and a quick ratio of 3.35. The firm has a market cap of $3.33 billion, a P/E ratio of 8.46, a P/E/G ratio of 0.35 and a beta of 1.60.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $4.03 EPS for the quarter, beating the consensus estimate of $1.08 by $2.95. The business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.39 billion. Hilton Grand Vacations had a net margin of 7.02% and a return on equity of 39.73%. The business's quarterly revenue was up 50.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Equities analysts anticipate that Hilton Grand Vacations Inc. will post 5.27 earnings per share for the current fiscal year.

Hilton Grand Vacations declared that its board has initiated a share repurchase plan on Thursday, August 20th that allows the company to repurchase $600 million in shares. This buyback authorization allows the company to purchase up to 17% of its shares through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on HGV. Zacks Research lowered shares of Hilton Grand Vacations from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Truist Financial reduced their price objective on Hilton Grand Vacations from $71.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday, September 10th. Weiss Ratings raised Hilton Grand Vacations from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday. Wells Fargo & Company decreased their price objective on 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, The Goldman Sachs Group lowered their target price on Hilton Grand Vacations from $40.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Hilton Grand Vacations has an average rating of "Hold" and an average target price of $49.10.

Institutional Investors Weigh In On Hilton Grand Vacations

Several hedge funds have recently modified their holdings of HGV. Leonteq Securities AG increased its stake in shares of Hilton Grand Vacations by 189.7% in the 1st quarter. Leonteq Securities AG now owns 672 shares of the company's stock valued at $26,000 after purchasing an additional 440 shares in the last quarter. Nykredit A S purchased a new position in Hilton Grand Vacations during the second quarter worth approximately $38,000. Allworth Financial LP acquired a new stake in Hilton Grand Vacations in the second quarter valued at approximately $43,000. Covestor Ltd grew its holdings in Hilton Grand Vacations by 17.3% in the third quarter. Covestor Ltd now owns 1,800 shares of the company's stock valued at $62,000 after purchasing an additional 265 shares during the period. Finally, Persistent Asset Partners Ltd acquired a new stake in Hilton Grand Vacations in the second quarter valued at approximately $63,000. 97.23% of the stock is owned by hedge funds and other institutional investors.

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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