Instinet Reaffirms Buy Rating for Hilton Grand Vacations Inc. (NYSE:HGV)
Instinet restated their buy rating on shares of Hilton Grand Vacations Inc. (NYSE:HGV) in a report published on Thursday. The firm currently has a $45.00 price target on the stock, up from their previous price target of $44.00.
A number of other equities analysts have also recently commented on HGV. Nomura lifted their price target on Hilton Grand Vacations from $44.00 to $45.00 and gave the stock a buy rating in a report on Thursday. Zacks Investment Research upgraded Hilton Grand Vacations from a hold rating to a buy rating and set a $41.00 price target for the company in a report on Monday, June 19th. Finally, Buckingham Research began coverage on Hilton Grand Vacations in a report on Monday, June 19th. They set a buy rating and a $42.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $38.56.
Shares of Hilton Grand Vacations (NYSE:HGV) traded down 1.82% during mid-day trading on Thursday, reaching $36.17. The company had a trading volume of 624,421 shares. The company has a market capitalization of $3.58 billion and a price-to-earnings ratio of 20.55. The firm’s 50-day moving average is $36.26 and its 200 day moving average is $32.60. Hilton Grand Vacations has a 12 month low of $24.60 and a 12 month high of $37.94.
Hilton Grand Vacations (NYSE:HGV) last released its earnings results on Wednesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $439 million during the quarter, compared to analyst estimates of $413.33 million. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Hilton Grand Vacations will post $1.93 earnings per share for the current year.
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In other news, insider Mark D. Wang acquired 28,000 shares of Hilton Grand Vacations stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $36.08 per share, for a total transaction of $1,010,240.00. Following the completion of the acquisition, the insider now directly owns 312,325 shares in the company, valued at approximately $11,268,686. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hlt Holdco Iii Llc sold 9,650,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $35.40, for a total value of $341,610,000.00. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
Several large investors have recently modified their holdings of the company. Marshall Wace North America L.P. boosted its stake in shares of Hilton Grand Vacations by 795.1% in the second quarter. Marshall Wace North America L.P. now owns 833,265 shares of the company’s stock valued at $29,998,000 after buying an additional 740,173 shares during the period. Spark Investment Management LLC boosted its stake in shares of Hilton Grand Vacations by 151.7% in the second quarter. Spark Investment Management LLC now owns 159,800 shares of the company’s stock valued at $5,762,000 after buying an additional 96,300 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Hilton Grand Vacations during the second quarter valued at about $3,462,000. First Quadrant L P CA bought a new stake in shares of Hilton Grand Vacations during the second quarter valued at about $2,911,000. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Hilton Grand Vacations by 220.5% in the second quarter. Gateway Investment Advisers LLC now owns 89,482 shares of the company’s stock valued at $3,227,000 after buying an additional 61,562 shares during the period. Institutional investors own 95.53% of the company’s stock.
About Hilton Grand Vacations
Hilton Grand Vacations Inc is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.
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