Cibc World Market Inc. Purchases Shares of 71,059 Hilton Grand Vacations Inc. $HGV

Cibc World Market Inc. purchased a new position in Hilton Grand Vacations Inc. (NYSE:HGV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 71,059 shares of the company’s stock, valued at approximately $3,721,000. Cibc World Market Inc. owned approximately 0.09% of Hilton Grand Vacations as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in Hilton Grand Vacations by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,449 shares of the company’s stock valued at $199,000 after purchasing an additional 238 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Hilton Grand Vacations during the 2nd quarter worth about $63,000. Quadrant Capital Group LLC raised its position in Hilton Grand Vacations by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,501 shares of the company’s stock valued at $112,000 after purchasing an additional 291 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Hilton Grand Vacations by 3.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,322 shares of the company’s stock valued at $482,000 after purchasing an additional 400 shares in the last quarter. Finally, Leonteq Securities AG boosted its stake in shares of Hilton Grand Vacations by 189.7% in the 1st quarter. Leonteq Securities AG now owns 672 shares of the company’s stock valued at $26,000 after buying an additional 440 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HGV shares. Barclays lowered their price objective on Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. Susquehanna assumed coverage on shares of Hilton Grand Vacations in a research note on Tuesday, August 18th. They issued a “neutral” rating and a $50.00 price target for the company. Morgan Stanley lowered their price target on shares of Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. 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. Finally, The Goldman Sachs Group reduced their price objective on shares of Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Three 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, the company has an average rating of “Hold” and a consensus price target of $54.89.

Hilton Grand Vacations Stock Performance

Shares of HGV opened at $44.91 on Thursday. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. Hilton Grand Vacations Inc. has a 52-week low of $36.79 and a 52-week high of $55.40. The company has a quick ratio of 3.20, a current ratio of 5.02 and a debt-to-equity ratio of 6.18. The stock has a 50 day moving average price of $48.83 and a 200 day moving average price of $47.00.

Hilton Grand Vacations (NYSE:HGV) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.05). The company had revenue of $1.36 billion for 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%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Research analysts predict that Hilton Grand Vacations Inc. will post 4.61 EPS for the current fiscal year.

Hilton Grand Vacations announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 20th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the company to repurchase up to 17% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Charles R. Jr. Corbin sold 20,691 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total value of $970,407.90. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

Hilton Grand Vacations Company 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.