Short Interest in Hilton Grand Vacations Inc. (NYSE:HGV) Drops By 6.7%

Hilton Grand Vacations Inc. (NYSE:HGV) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 6,530,000 shares, a drop of 6.7% from the October 31st total of 7,000,000 shares. Based on an average trading volume of 866,300 shares, the days-to-cover ratio is currently 7.5 days. Currently, 9.7% of the shares of the company are sold short.

Hilton Grand Vacations Stock Performance

Hilton Grand Vacations stock traded down $0.36 during trading hours on Tuesday, hitting $41.26. 1,165,175 shares of the stock traded hands, compared to its average volume of 791,842. Hilton Grand Vacations has a 1 year low of $33.21 and a 1 year high of $49.02. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 46.89, a P/E/G ratio of 2.29 and a beta of 1.85. The company has a debt-to-equity ratio of 3.32, a current ratio of 4.83 and a quick ratio of 3.08. The firm’s 50 day moving average price is $38.98 and its 200-day moving average price is $39.27.

Hilton Grand Vacations (NYSE:HGV) last posted its earnings results on Thursday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.03). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Hilton Grand Vacations had a net margin of 2.01% and a return on equity of 16.44%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts expect that Hilton Grand Vacations will post 3.43 EPS for the current fiscal year.

Insider Activity at Hilton Grand Vacations

In related news, major shareholder Principal Holdings A. Gp Apollo sold 4,000,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $42.10, for a total transaction 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. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles R. Jr. Corbin sold 49,389 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $41.55, for a total transaction of $2,052,112.95. Following the completion of the sale, the insider now directly owns 88,532 shares in the company, valued at $3,678,504.60. This represents a 35.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Hilton Grand Vacations

A number of hedge funds have recently added to or reduced their stakes in HGV. FMR LLC raised its position in shares of Hilton Grand Vacations by 39.0% in the third quarter. FMR LLC now owns 3,271,387 shares of the company’s stock worth $118,817,000 after acquiring an additional 917,397 shares during the period. Long Pond Capital LP raised its holdings in Hilton Grand Vacations by 218.0% in the 2nd quarter. Long Pond Capital LP now owns 1,200,920 shares of the company’s stock worth $48,553,000 after purchasing an additional 823,228 shares during the period. Millennium Management LLC boosted its position in Hilton Grand Vacations by 44.5% during the second quarter. Millennium Management LLC now owns 2,269,405 shares of the company’s stock worth $91,752,000 after purchasing an additional 698,664 shares in the last quarter. Franklin Resources Inc. boosted its position in Hilton Grand Vacations by 17.8% during the third quarter. Franklin Resources Inc. now owns 3,298,729 shares of the company’s stock worth $117,402,000 after purchasing an additional 499,067 shares in the last quarter. Finally, Barclays PLC grew its holdings in Hilton Grand Vacations by 330.8% in the third quarter. Barclays PLC now owns 246,131 shares of the company’s stock valued at $8,941,000 after purchasing an additional 188,997 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on HGV. JPMorgan Chase & Co. downgraded Hilton Grand Vacations from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $36.00 in a report on Friday, August 9th. Mizuho lowered their price target on shares of Hilton Grand Vacations from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Jefferies Financial Group lowered shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $35.00 in a report on Friday, August 9th. The Goldman Sachs Group assumed coverage on shares of Hilton Grand Vacations in a research note on Wednesday, September 18th. They set a “sell” rating and a $31.00 price objective for the company. Finally, Truist Financial reduced their price target on Hilton Grand Vacations from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. One equities research 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, Hilton Grand Vacations presently has a consensus rating of “Hold” and a consensus price target of $43.86.

Hilton Grand Vacations Company Profile

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.