Palisade Capital Management LLC NJ Increases Stake in ILG Inc. (ILG)
Palisade Capital Management LLC NJ boosted its stake in ILG Inc. (NASDAQ:ILG) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 533,269 shares of the business services provider’s stock after buying an additional 12,790 shares during the period. Palisade Capital Management LLC NJ’s holdings in ILG were worth $14,660,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of ILG by 10,793.0% in the first quarter. BlackRock Inc. now owns 13,919,706 shares of the business services provider’s stock valued at $291,757,000 after buying an additional 13,791,920 shares in the last quarter. P2 Capital Partners LLC raised its stake in shares of ILG by 87.9% in the first quarter. P2 Capital Partners LLC now owns 4,375,000 shares of the business services provider’s stock valued at $91,700,000 after buying an additional 2,046,821 shares in the last quarter. Corsair Capital Management L.P. purchased a new stake in shares of ILG during the first quarter valued at about $27,464,000. Teachers Advisors LLC purchased a new stake in shares of ILG during the fourth quarter valued at about $21,448,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of ILG by 23.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,727,030 shares of the business services provider’s stock valued at $99,078,000 after buying an additional 912,167 shares in the last quarter. 81.97% of the stock is owned by institutional investors and hedge funds.
Shares of ILG Inc. (NASDAQ:ILG) opened at 26.25 on Tuesday. The firm has a 50-day moving average price of $27.35 and a 200 day moving average price of $23.13. ILG Inc. has a 12 month low of $15.94 and a 12 month high of $28.99. The company has a market cap of $3.28 billion, a P/E ratio of 10.87 and a beta of 1.47.
ILG (NASDAQ:ILG) last announced its earnings results on Thursday, August 3rd. The business services provider reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The firm had revenue of $450 million during the quarter, compared to analysts’ expectations of $432.86 million. ILG had a return on equity of 11.41% and a net margin of 7.32%. The business’s revenue for the quarter was up 51.5% on a year-over-year basis. Equities analysts predict that ILG Inc. will post $1.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Tuesday, September 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, August 31st. ILG’s dividend payout ratio (DPR) is 57.69%.
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Several analysts have weighed in on ILG shares. Zacks Investment Research upgraded ILG from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of ILG in a research report on Friday, April 21st. CIBC boosted their price objective on ILG from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, April 24th. Finally, Imperial Capital boosted their price objective on ILG from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 30th. Seven analysts have rated the stock with a buy rating, ILG currently has a consensus rating of “Buy” and a consensus price target of $26.67.
ILG, Inc, formerly Interval Leisure Group, Inc, is a provider of professionally delivered vacation experiences. The Company is a global licensee for the Hyatt, Westin and Sheraton brands in vacation ownership. The Company operates through two segments: Exchange and Rental, and Vacation Ownership. Its Exchange and Rental segment offers access to vacation accommodations and other travel-related transactions and services to leisure travelers, by providing vacation exchange services and vacation rental, working with resort developers and operating vacation rental properties.
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