State of Alaska Department of Revenue lessened its stake in Hilton Grand Vacations Inc. (NYSE:HGV – Free Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,885 shares of the company’s stock after selling 810 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hilton Grand Vacations were worth $316,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Apollo Management Holdings L.P. purchased a new stake in shares of Hilton Grand Vacations during the first quarter valued at approximately $1,346,044,000. BlackRock Inc. increased its position in shares of Hilton Grand Vacations by 46.1% during the first quarter. BlackRock Inc. now owns 10,794,419 shares of the company’s stock valued at $479,596,000 after acquiring an additional 3,408,398 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Hilton Grand Vacations by 8.4% during the fourth quarter. Alliancebernstein L.P. now owns 5,866,393 shares of the company’s stock valued at $226,091,000 after acquiring an additional 455,826 shares during the last quarter. State Street Corp increased its position in shares of Hilton Grand Vacations by 58.0% during the first quarter. State Street Corp now owns 2,711,513 shares of the company’s stock valued at $120,473,000 after acquiring an additional 995,676 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Hilton Grand Vacations by 120.0% during the first quarter. Invesco Ltd. now owns 2,130,560 shares of the company’s stock valued at $110,810,000 after acquiring an additional 1,162,310 shares during the last quarter. 97.23% of the stock is owned by hedge funds and other institutional investors.
Hilton Grand Vacations Price Performance
Shares of NYSE HGV opened at $43.53 on Friday. The stock has a market cap of $4.56 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.93. Hilton Grand Vacations Inc. has a fifty-two week low of $33.13 and a fifty-two week high of $49.02. The company has a debt-to-equity ratio of 2.13, a quick ratio of 3.10 and a current ratio of 4.34. The stock has a fifty day moving average of $45.14 and a 200-day moving average of $40.94.
Hilton Grand Vacations (NYSE:HGV – Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Hilton Grand Vacations had a return on equity of 19.06% and a net margin of 7.87%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. Equities research analysts anticipate that Hilton Grand Vacations Inc. will post 4.07 earnings per share for the current year.
Insider Activity
In related news, insider Charles R. Jr. Corbin sold 38,557 shares of Hilton Grand Vacations stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $46.18, for a total transaction of $1,780,562.26. Following the completion of the sale, the insider now owns 166,997 shares of the company’s stock, valued at $7,711,921.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Charles R. Jr. Corbin sold 23,000 shares of Hilton Grand Vacations stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $45.49, for a total transaction of $1,046,270.00. Following the completion of the sale, the insider now owns 140,618 shares of the company’s stock, valued at $6,396,712.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles R. Jr. Corbin sold 38,557 shares of Hilton Grand Vacations stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $46.18, for a total value of $1,780,562.26. Following the sale, the insider now directly owns 166,997 shares of the company’s stock, valued at approximately $7,711,921.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,557 shares of company stock worth $4,142,832. 2.30% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
HGV has been the subject of a number of research analyst reports. Truist Financial increased their price target on Hilton Grand Vacations from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays raised their target price on Hilton Grand Vacations from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Jefferies Financial Group raised Hilton Grand Vacations from a “hold” rating to a “buy” rating and raised their target price for the stock from $39.00 to $50.00 in a research report on Tuesday, January 2nd. Mizuho assumed coverage on Hilton Grand Vacations in a research report on Tuesday, March 26th. They issued a “buy” rating and a $63.00 target price for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $55.00 target price on shares of Hilton Grand Vacations in a research report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.29.
Check Out Our Latest Stock Analysis on HGV
Hilton Grand Vacations Company Profile
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.
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