Covey Capital Advisors LLC Boosts Stock Position in Hilton Grand Vacations Inc. (NYSE:HGV)

Covey Capital Advisors LLC boosted its stake in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 368.8% in the third quarter, Holdings Channel reports. The fund owned 49,148 shares of the company’s stock after purchasing an additional 38,664 shares during the period. Hilton Grand Vacations accounts for about 2.0% of Covey Capital Advisors LLC’s portfolio, making the stock its 15th biggest position. Covey Capital Advisors LLC’s holdings in Hilton Grand Vacations were worth $1,785,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hantz Financial Services Inc. increased its stake in shares of Hilton Grand Vacations by 7.5% during the third quarter. Hantz Financial Services Inc. now owns 71,648 shares of the company’s stock worth $2,602,000 after acquiring an additional 5,021 shares during the period. Blueshift Asset Management LLC lifted its holdings in shares of Hilton Grand Vacations by 28.4% in the 3rd quarter. Blueshift Asset Management LLC now owns 20,939 shares of the company’s stock valued at $761,000 after buying an additional 4,633 shares during the period. Mudita Advisors LLP grew its holdings in Hilton Grand Vacations by 1.1% during the third quarter. Mudita Advisors LLP now owns 916,765 shares of the company’s stock worth $33,297,000 after acquiring an additional 9,800 shares during the period. BNP Paribas Financial Markets raised its position in Hilton Grand Vacations by 92.7% in the third quarter. BNP Paribas Financial Markets now owns 56,781 shares of the company’s stock worth $2,062,000 after acquiring an additional 27,313 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Hilton Grand Vacations in the third quarter valued at $484,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of Hilton Grand Vacations from $52.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut shares of Hilton Grand Vacations from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $36.00 in a report on Friday, August 9th. The Goldman Sachs Group began coverage on Hilton Grand Vacations in a research note on Wednesday, September 18th. They set a “sell” rating and a $31.00 price target on the stock. Barclays upped their price target on Hilton Grand Vacations from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, StockNews.com raised Hilton Grand Vacations from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.86.

Hilton Grand Vacations Price Performance

HGV stock opened at $41.74 on Friday. The stock’s 50 day moving average price is $38.74 and its 200 day moving average price is $39.33. The firm has a market cap of $4.11 billion, a P/E ratio of 47.43, a PEG ratio of 2.27 and a beta of 1.82. The company has a debt-to-equity ratio of 3.32, a quick ratio of 3.08 and a current ratio of 4.83. Hilton Grand Vacations Inc. has a 1 year low of $33.21 and a 1 year high of $49.02.

Hilton Grand Vacations (NYSE:HGV) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Hilton Grand Vacations had a net margin of 2.01% and a return on equity of 16.44%. The firm’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, sell-side analysts expect that Hilton Grand Vacations Inc. will post 3.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Charles R. Jr. Corbin sold 49,389 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $41.55, for a total value of $2,052,112.95. Following the completion of the sale, the insider now directly owns 88,532 shares in the company, valued at approximately $3,678,504.60. This represents a 35.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Principal Holdings A. Gp Apollo sold 4,000,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $42.10, for a total value of $168,400,000.00. Following the completion of the transaction, the insider now directly owns 26,295,825 shares in the company, valued at $1,107,054,232.50. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

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.