Magnetar Financial LLC Buys New Position in Hilton Grand Vacations Inc. $HGV

Magnetar Financial LLC bought a new stake in Hilton Grand Vacations Inc. (NYSE:HGV) during the 3rd quarter, Holdings Channel.com reports. The firm bought 34,612 shares of the company’s stock, valued at approximately $1,447,000.

A number of other large investors have also recently bought and sold shares of HGV. Iridian Asset Management LLC CT raised its holdings in shares of Hilton Grand Vacations by 38.0% in the third quarter. Iridian Asset Management LLC CT now owns 274,055 shares of the company’s stock valued at $11,458,000 after purchasing an additional 75,453 shares during the last quarter. Quantbot Technologies LP acquired a new position in Hilton Grand Vacations during the second quarter worth $1,774,000. Assenagon Asset Management S.A. grew its position in Hilton Grand Vacations by 2,637.2% in the third quarter. Assenagon Asset Management S.A. now owns 221,932 shares of the company’s stock valued at $9,279,000 after purchasing an additional 213,824 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Hilton Grand Vacations by 19.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 237,836 shares of the company’s stock valued at $9,944,000 after buying an additional 37,907 shares during the last quarter. Finally, Close Asset Management Ltd increased its stake in Hilton Grand Vacations by 15.7% in the 3rd quarter. Close Asset Management Ltd now owns 1,239,840 shares of the company’s stock valued at $51,832,000 after buying an additional 168,160 shares during the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research downgraded shares of Hilton Grand Vacations from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Barclays lowered their target price on Hilton Grand Vacations from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Wells Fargo & Company assumed coverage on Hilton Grand Vacations in a report on Tuesday, November 18th. They set an “equal weight” rating and a $42.00 target price on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $40.00 price target on shares of Hilton Grand Vacations in a research report on Thursday, February 26th. Finally, Truist Financial decreased their price target on Hilton Grand Vacations from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hilton Grand Vacations currently has an average rating of “Hold” and a consensus price target of $52.33.

Hilton Grand Vacations Stock Performance

HGV opened at $41.79 on Friday. The company has a quick ratio of 3.17, a current ratio of 5.20 and a debt-to-equity ratio of 5.04. Hilton Grand Vacations Inc. has a 12-month low of $30.59 and a 12-month high of $52.08. The business has a 50 day moving average of $46.01 and a 200-day moving average of $44.32. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 0.59 and a beta of 1.43.

Hilton Grand Vacations (NYSE:HGV) last posted its earnings results on Thursday, February 26th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.17). Hilton Grand Vacations had a return on equity of 11.90% and a net margin of 1.60%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that Hilton Grand Vacations Inc. will post 3.39 earnings per share for the current year.

Hilton Grand Vacations Profile

Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.

In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.