Hilton Grand Vacations (NYSE:HGV) Sets New 12-Month Low – Here’s Why

Hilton Grand Vacations Inc. (NYSE:HGV) shares reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $34.58 and last traded at $34.4540, with a volume of 264076 shares traded. The stock had previously closed at $35.78.

Wall Street Analysts Forecast Growth

HGV has been the topic of several recent analyst reports. Citigroup reissued a “market outperform” rating on shares of Hilton Grand Vacations in a research report on Friday, September 4th. Truist Financial decreased their target price on shares of Hilton Grand Vacations from $71.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, September 10th. The Goldman Sachs Group dropped their target price on shares of Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Wall Street Zen cut shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Zacks Research downgraded shares of Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.67.

Hilton Grand Vacations Price Performance

The firm has a 50-day moving average of $42.79 and a 200 day moving average of $45.81. The company has a market capitalization of $2.69 billion, a PE ratio of 19.54, a PEG ratio of 0.37 and a beta of 1.50. The company has a debt-to-equity ratio of 6.18, a current ratio of 5.02 and a quick ratio of 3.20.

Hilton Grand Vacations (NYSE:HGV) last issued its earnings results on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.Hilton Grand Vacations’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. As a group, research analysts anticipate that Hilton Grand Vacations Inc. will post 4.4 earnings per share for the current fiscal year.

Hilton Grand Vacations announced that its Board of Directors has approved a share repurchase program on Thursday, August 20th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 17% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Hilton Grand Vacations

In other news, insider Charles Corbin, Jr. sold 20,691 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total transaction of $970,407.90. Following the completion of the transaction, the insider directly owned 47,924 shares of the company’s stock, valued at $2,247,635.60. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Hilton Grand Vacations

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Hilton Grand Vacations in the 2nd quarter worth approximately $422,842,000. Parsifal Capital Management LP bought a new position in shares of Hilton Grand Vacations during the 2nd quarter valued at $108,863,038. TrinityBridge Ltd purchased a new position in shares of Hilton Grand Vacations in the 2nd quarter worth $52,540,000. Norges Bank bought a new stake in shares of Hilton Grand Vacations in the fourth quarter worth $32,871,000. Finally, Bank of America Corp DE increased its position in Hilton Grand Vacations by 411.4% during the first quarter. Bank of America Corp DE now owns 566,855 shares of the company’s stock valued at $22,175,000 after acquiring an additional 456,008 shares during the last quarter. Hedge funds and other institutional investors own 97.23% of the company’s stock.

About Hilton Grand Vacations

Hilton Grand Vacations Inc (NYSE:HGV) is a vacation ownership company that develops, markets, sells and manages timeshare interests and related vacation experiences. Its products generally provide members with an allotment of vacation time or points that can be used at participating resorts and accommodations.

The company serves vacation owners through resort properties and membership programs under brands including Hilton Grand Vacations, The Hilton Club and HGV Max. Its offerings may include access to resort accommodations, exchange programs, travel services and other member benefits.