Hilton Grand Vacations (NYSE:HGV) Shares Gap Down on Disappointing Earnings

Hilton Grand Vacations Inc. (NYSE:HGV)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $38.51, but opened at $33.40. Hilton Grand Vacations shares last traded at $35.17, with a volume of 141,347 shares trading hands.

The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.27). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Hilton Grand Vacations had a net margin of 5.62% and a return on equity of 19.41%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Mizuho lowered their price objective on shares of Hilton Grand Vacations from $63.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut Hilton Grand Vacations from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $36.00 in a research report on Friday. Barclays cut their price target on Hilton Grand Vacations from $54.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial increased their price objective on Hilton Grand Vacations from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group lowered shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating and reduced their price objective for the company from $55.00 to $35.00 in a research note on Friday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.43.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Hilton Grand Vacations in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. bought a new position in Hilton Grand Vacations in the 1st quarter valued at about $47,000. Ashton Thomas Private Wealth LLC acquired a new stake in Hilton Grand Vacations during the 2nd quarter worth approximately $120,000. Quest Partners LLC bought a new stake in Hilton Grand Vacations in the 4th quarter valued at about $142,000. Finally, Benjamin Edwards Inc. grew its position in Hilton Grand Vacations by 46.0% during the first quarter. Benjamin Edwards Inc. now owns 3,193 shares of the company’s stock worth $151,000 after buying an additional 1,006 shares in the last quarter. Institutional investors and hedge funds own 97.23% of the company’s stock.

Hilton Grand Vacations Stock Down 2.6 %

The stock has a 50-day moving average of $40.61 and a 200 day moving average of $42.80. The company has a debt-to-equity ratio of 3.09, a current ratio of 4.44 and a quick ratio of 3.11. The company has a market cap of $3.59 billion, a P/E ratio of 16.31, a PEG ratio of 1.76 and a beta of 1.83.

About Hilton Grand Vacations

Hilton Grand Vacations Inc, a timeshare company, develops, markets, sells, manages, and operates the resorts, plans and ancillary reservation services under the Hilton Grand Vacations brand. It operates through Real Estate Sales and Financing, and Resort Operations and Club Management segments. Real Estate Sales and Financing segment market and sells the VOIs, and source VOIs through fee-for-service agreements with third-party developers; and provides consumer financing and services loans.