Hilton Grand Vacations (NYSE:HGV) Share Price Breaks Above Two Hundred Day Moving Average After Insider Selling

Key Points

• Shares moved above their 200-day moving average, trading at $44.66 after reaching $44.93; the 200-day average is $44.50.
• Insider Mark Wang bought 12,200 shares at an average of $40.92, increasing his stake by 1.35% to 916,715 shares.
• Hilton Grand Vacations reported quarterly EPS of $4.03 versus $1.08 expected and revenue of $1.96 billion, up 50.8% year over year. Analysts’ consensus rating is Hold, with an average price target of $49.10.

Hilton Grand Vacations Inc. (NYSE:HGV - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday after an insider bought additional shares in the company. The stock has a 200-day moving average of $44.50 and traded as high as $44.93. Hilton Grand Vacations shares last traded at $44.66, with a volume of 1,364,637 shares changing hands.

Specifically, insider Mark Wang bought 12,200 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was bought at an average price of $40.92 per share, with a total value of $499,224.00. Following the purchase, the insider directly owned 916,715 shares of the company's stock, valued at approximately $37,511,977.80. This represents a 1.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho dropped their price target on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Zacks Research upgraded Hilton Grand Vacations from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 3rd. Citigroup downgraded Hilton Grand Vacations from a "market outperform" rating to a "market perform" rating in a research note on Monday, November 2nd. Susquehanna reduced their price target on Hilton Grand Vacations from $50.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, October 15th. Finally, Citizens Jmp cut Hilton Grand Vacations from a "market outperform" rating to a "market perform" rating in a research note on Monday, November 2nd. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hilton Grand Vacations has an average rating of "Hold" and an average price target of $49.10.

Hilton Grand Vacations Price Performance

The company's 50-day simple moving average is $37.57 and its 200 day simple moving average is $44.50. The company has a quick ratio of 3.35, a current ratio of 5.15 and a debt-to-equity ratio of 5.29. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 0.31 and a beta of 1.60.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $4.03 earnings per share 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 company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's quarterly revenue was up 50.8% compared to the same quarter last year. Equities research analysts forecast that Hilton Grand Vacations Inc. will post 6.38 EPS for the current year.

Hilton Grand Vacations announced that its Board of Directors has initiated a share repurchase program on Thursday, August 20th that authorizes the company to repurchase $600 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 17% of its shares through open market purchases. Share buyback programs are typically a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Hilton Grand Vacations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Hilton Grand Vacations in the 2nd quarter valued at $422,842,000. Bank of America Corp DE acquired a new position in Hilton Grand Vacations during the 2nd quarter worth $12,947,000. Engineers Gate Manager LP lifted its position in Hilton Grand Vacations by 690.7% during the 2nd quarter. Engineers Gate Manager LP now owns 41,535 shares of the company's stock worth $2,175,000 after acquiring an additional 36,282 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Hilton Grand Vacations during the second quarter valued at about $18,750,000. Finally, Parsifal Capital Management LP bought a new stake in Hilton Grand Vacations during the second quarter valued at about $108,863,038. Institutional investors and hedge funds own 97.23% of the company's stock.

About Hilton Grand Vacations

Hilton Grand Vacations Inc is a vacation ownership company that develops, markets and operates resorts and sells vacation ownership interests. Its offerings include points-based vacation clubs that let members use their ownership interests to book stays at participating resorts and destinations.

The company serves vacationers through resorts and club offerings in the United States and international destinations, including locations in the Caribbean, Europe and Asia-Pacific. Its portfolio includes properties associated with the Hilton Grand Vacations brand and other vacation ownership brands.

Hilton Grand Vacations became an independent publicly traded company in 2017 after being spun off from Hilton Worldwide.

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