Hilton Grand Vacations (NYSE:HGV) Stock Rating Cut to “Market Perform” at Citizens Jmp

Hilton Grand Vacations (NYSE:HGV) was downgraded by investment analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, Briefing.com reports.

A number of other analysts have also recently commented on the stock. Citigroup cut shares of Hilton Grand Vacations from a “market outperform” rating to a “market perform” rating in a research report on Monday. Morgan Stanley lowered their price objective on Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 18th. Truist Financial cut their target price on Hilton Grand Vacations from $71.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Wells Fargo & Company dropped their price target on Hilton Grand Vacations from $51.00 to $38.00 and set a “cautious” rating on the stock in a research note on Monday, October 19th. Finally, JPMorgan Chase & Co. cut their price target on Hilton Grand Vacations from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $49.80.

Hilton Grand Vacations Stock Up 0.1%

Shares of NYSE HGV opened at $38.49 on Monday. The company has a market capitalization of $2.99 billion, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 0.39 and a beta of 1.61. Hilton Grand Vacations has a 52-week low of $33.99 and a 52-week high of $55.40. The company has a debt-to-equity ratio of 5.29, a quick ratio of 3.35 and a current ratio of 5.15. The company’s 50 day moving average price is $37.74 and its 200-day moving average price is $44.61.

Hilton Grand Vacations (NYSE:HGV) last posted its quarterly earnings data on Thursday, October 29th. The company reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $2.95. Hilton Grand Vacations had a net margin of 7.02% and a return on equity of 39.73%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 50.8% on a year-over-year basis. Equities analysts forecast that Hilton Grand Vacations will post 4.48 earnings per share for the current year.

Hilton Grand Vacations announced that its Board of Directors has approved a share repurchase plan on Thursday, August 20th that permits the company to repurchase $600 million in shares. This repurchase authorization permits the company to repurchase up to 17% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Charles Corbin, Jr. sold 20,691 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $46.90, for a total transaction of $970,407.90. Following the transaction, the insider directly owned 47,924 shares of the company’s stock, valued at approximately $2,247,635.60. This represents a 30.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Covestor Ltd boosted its stake in Hilton Grand Vacations by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,800 shares of the company’s stock valued at $62,000 after purchasing an additional 265 shares during the last quarter. State of Wyoming increased its position in shares of Hilton Grand Vacations by 71.9% during the 3rd quarter. State of Wyoming now owns 10,226 shares of the company’s stock valued at $354,000 after purchasing an additional 4,278 shares during the last quarter. Iridian Asset Management LLC CT raised its position in Hilton Grand Vacations by 54.5% in the third quarter. Iridian Asset Management LLC CT now owns 711,664 shares of the company’s stock worth $24,666,000 after acquiring an additional 251,068 shares during the period. Sterling Capital Management LLC grew its holdings in Hilton Grand Vacations by 912.6% during the third quarter. Sterling Capital Management LLC now owns 2,015 shares of the company’s stock valued at $70,000 after purchasing an additional 1,816 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Hilton Grand Vacations by 63.3% in the third quarter. State of Alaska Department of Revenue now owns 9,611 shares of the company’s stock worth $333,000 after buying an additional 3,727 shares during the last quarter. 97.23% of the stock is owned by institutional investors.

About Hilton Grand Vacations

Hilton Grand Vacations Inc (NYSE:HGV) is a global vacation ownership company that markets and sells vacation intervals, points-based memberships and related travel experiences. Its portfolio includes branded vacation ownership resorts and accommodations in popular leisure destinations, with products designed to provide members with recurring access to vacation properties.

The company also provides resort management, reservation and customer services, financing for vacation ownership purchases, and exchange and travel-planning services.