Gruss Capital Management LP Lowers Stake in ILG Inc. (ILG)
Gruss Capital Management LP trimmed its position in shares of ILG Inc. (NASDAQ:ILG) by 21.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,780,000 shares of the business services provider’s stock after selling 492,400 shares during the quarter. ILG accounts for 3.9% of Gruss Capital Management LP’s investment portfolio, making the stock its 4th largest holding. Gruss Capital Management LP owned 1.43% of ILG worth $48,932,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Eaton Vance Management raised its position in shares of ILG by 0.7% during the second quarter. Eaton Vance Management now owns 10,172 shares of the business services provider’s stock worth $280,000 after purchasing an additional 67 shares during the period. Alps Advisors Inc. grew its holdings in ILG by 0.3% during the second quarter. Alps Advisors Inc. now owns 26,025 shares of the business services provider’s stock worth $715,000 after buying an additional 68 shares in the last quarter. Creative Planning grew its holdings in ILG by 6.3% during the second quarter. Creative Planning now owns 5,325 shares of the business services provider’s stock worth $146,000 after buying an additional 316 shares in the last quarter. Advisors Preferred LLC grew its holdings in ILG by 1.8% during the second quarter. Advisors Preferred LLC now owns 17,970 shares of the business services provider’s stock worth $493,000 after buying an additional 317 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in ILG by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 100,018 shares of the business services provider’s stock worth $2,749,000 after buying an additional 354 shares in the last quarter. 81.28% of the stock is currently owned by institutional investors.
ILG (NASDAQ:ILG) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $450.00 million for 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 quarterly revenue was up 51.5% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Tuesday, September 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.60 annualized dividend and a yield of 2.27%. ILG’s dividend payout ratio (DPR) is currently 57.69%.
A number of research analysts have issued reports on ILG shares. Zacks Investment Research upgraded ILG from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Wednesday, July 5th. Imperial Capital increased their price target on ILG from $22.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 30th. Finally, BidaskClub upgraded ILG from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. ILG currently has an average rating of “Buy” and a consensus target price of $27.00.
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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