Hilton Grand Vacations (NYSE:HGV) Stock Bumped Down to Market Perform by Citizens Jmp

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

Several other analysts also recently weighed in on the company. Weiss Ratings downgraded Hilton Grand Vacations from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 19th. Morgan Stanley lowered their target price on Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 18th. Citigroup downgraded shares of Hilton Grand Vacations from a “market outperform” rating to a “market perform” rating in a research note on Monday. Truist Financial reduced their price objective 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. Finally, Mizuho lowered their target price on Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Hilton Grand Vacations has an average rating of “Reduce” and an average price target of $49.80.

Hilton Grand Vacations Stock Performance

Shares of Hilton Grand Vacations stock opened at $38.49 on Monday. The company has a current ratio of 5.15, a quick ratio of 3.35 and a debt-to-equity ratio of 5.29. The company has a market cap of $2.99 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 0.39 and a beta of 1.61. The company has a 50 day moving average of $37.74 and a 200-day moving average of $44.61. Hilton Grand Vacations has a 1-year low of $33.99 and a 1-year high of $55.40.

Hilton Grand Vacations (NYSE:HGV) last announced its quarterly earnings data on Thursday, October 29th. The company reported $4.03 earnings per share (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 business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 50.8% compared to the same quarter last year. As a group, equities research analysts forecast that Hilton Grand Vacations will post 4.48 earnings per share for the current fiscal year.

Hilton Grand Vacations announced that its board has approved a stock repurchase program on Thursday, August 20th that allows the company to buy back $600 million in shares. This buyback authorization allows the company to buy up to 17% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Hilton Grand Vacations news, insider Charles Corbin, Jr. sold 20,691 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 47,924 shares in the company, valued at approximately $2,247,635.60. This represents a 30.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Hilton Grand Vacations

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

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.