Norges Bank Makes New Investment in Hilton Grand Vacations Inc. $HGV

Norges Bank purchased a new position in Hilton Grand Vacations Inc. (NYSE:HGV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 734,537 shares of the company’s stock, valued at approximately $32,871,000. Norges Bank owned about 0.86% of Hilton Grand Vacations at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Hilton Grand Vacations by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,472,796 shares of the company’s stock worth $65,919,000 after buying an additional 25,020 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Hilton Grand Vacations in the 4th quarter worth about $1,681,000. ProShare Advisors LLC boosted its stake in Hilton Grand Vacations by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 13,524 shares of the company’s stock worth $605,000 after buying an additional 1,030 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Hilton Grand Vacations by 93,334.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 51,389 shares of the company’s stock worth $2,300,000 after buying an additional 51,334 shares during the last quarter. Finally, Ethic Inc. boosted its stake in Hilton Grand Vacations by 165.6% in the 4th quarter. Ethic Inc. now owns 12,907 shares of the company’s stock worth $578,000 after buying an additional 8,047 shares during the last quarter. 97.23% of the stock is owned by institutional investors and hedge funds.

Hilton Grand Vacations Stock Performance

Hilton Grand Vacations stock opened at $48.51 on Tuesday. The stock’s 50 day moving average price is $46.40 and its 200 day moving average price is $45.14. The firm has a market capitalization of $3.85 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 0.44 and a beta of 1.50. The company has a debt-to-equity ratio of 5.41, a quick ratio of 2.64 and a current ratio of 4.33. Hilton Grand Vacations Inc. has a one year low of $36.79 and a one year high of $53.82.

Hilton Grand Vacations (NYSE:HGV) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.43. Hilton Grand Vacations had a return on equity of 17.62% and a net margin of 3.16%.The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.09 EPS. Hilton Grand Vacations’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that Hilton Grand Vacations Inc. will post 5.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Hilton Grand Vacations news, insider Charles R. Jr. Corbin sold 32,907 shares of Hilton Grand Vacations stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.66, for a total transaction of $1,568,347.62. Following the sale, the insider directly owned 68,615 shares in the company, valued at $3,270,190.90. The trade was a 32.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark D. Wang sold 190,813 shares of Hilton Grand Vacations stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $51.93, for a total value of $9,908,919.09. Following the sale, the insider owned 904,241 shares in the company, valued at $46,957,235.13. This represents a 17.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 229,315 shares of company stock worth $11,738,497 in the last three months. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on HGV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hilton Grand Vacations in a research note on Friday, May 29th. The Goldman Sachs Group raised Hilton Grand Vacations from a “sell” rating to a “neutral” rating and set a $55.00 price objective on the stock in a research note on Monday, June 1st. Morgan Stanley lifted their price objective on Hilton Grand Vacations from $49.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Wells Fargo & Company reduced their price objective on Hilton Grand Vacations from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. Finally, Truist Financial lifted their price objective on Hilton Grand Vacations from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Hilton Grand Vacations currently has an average rating of “Moderate Buy” and a consensus target price of $56.89.

Hilton Grand Vacations Profile

Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.

In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.