JPMorgan Chase & Co. Decreases Stake in Hilton Grand Vacations Inc. (NYSE:HGV)

JPMorgan Chase & Co. cut its stake in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 10.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 446,028 shares of the company’s stock after selling 51,418 shares during the period. JPMorgan Chase & Co.’s holdings in Hilton Grand Vacations were worth $16,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HGV. FMR LLC lifted its position in Hilton Grand Vacations by 39.0% during the 3rd 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 in the last quarter. Long Pond Capital LP lifted its position in Hilton Grand Vacations by 218.0% during the 2nd quarter. Long Pond Capital LP now owns 1,200,920 shares of the company’s stock worth $48,553,000 after acquiring an additional 823,228 shares in the last quarter. Millennium Management LLC raised its position in shares of Hilton Grand Vacations by 44.5% in the 2nd quarter. Millennium Management LLC now owns 2,269,405 shares of the company’s stock valued at $91,752,000 after purchasing an additional 698,664 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Hilton Grand Vacations by 17.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,298,729 shares of the company’s stock valued at $117,402,000 after purchasing an additional 499,067 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Hilton Grand Vacations by 330.8% in the 3rd 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 in the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Principal Holdings A. Gp Apollo sold 4,000,000 shares of the company’s stock in a transaction on 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. This represents a 13.20 % decrease in their position. The sale 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 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 transaction, the insider now directly owns 88,532 shares of the company’s stock, valued at approximately $3,678,504.60. The trade was a 35.81 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial cut their target price on Hilton Grand Vacations from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Morgan Stanley assumed coverage on Hilton Grand Vacations in a research report on Monday, January 6th. They issued an “overweight” rating and a $47.00 target price on the stock. The Goldman Sachs Group upped their target price on Hilton Grand Vacations from $33.00 to $37.00 and gave the company a “sell” rating in a research report on Tuesday, December 10th. Mizuho cut their target price on Hilton Grand Vacations from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $41.00 target price (down from $44.00) on shares of Hilton Grand Vacations in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Hilton Grand Vacations presently has a consensus rating of “Hold” and an average target price of $44.00.

Hilton Grand Vacations Stock Performance

HGV stock opened at $37.99 on Friday. The company has a current ratio of 4.83, a quick ratio of 3.08 and a debt-to-equity ratio of 3.32. The firm has a market cap of $3.74 billion, a P/E ratio of 43.17, a P/E/G ratio of 2.22 and a beta of 1.86. Hilton Grand Vacations Inc. has a 12-month low of $33.21 and a 12-month high of $49.02. The stock’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $39.06.

Hilton Grand Vacations (NYSE:HGV) last posted its quarterly earnings results 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 firm 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 business’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. As a group, equities research analysts predict that Hilton Grand Vacations Inc. will post 3.43 EPS for the current year.

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.