Verition Fund Management LLC Sells 117,695 Shares of Hilton Grand Vacations Inc. (NYSE:HGV)

Verition Fund Management LLC reduced its stake in Hilton Grand Vacations Inc. (NYSE:HGV) by 78.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,881 shares of the company’s stock after selling 117,695 shares during the quarter. Verition Fund Management LLC’s holdings in Hilton Grand Vacations were worth $1,194,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Hilton Grand Vacations by 141.7% during the 3rd quarter. Blue Trust Inc. now owns 1,003 shares of the company’s stock worth $36,000 after purchasing an additional 588 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Hilton Grand Vacations during the 3rd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in shares of Hilton Grand Vacations during the 2nd quarter worth approximately $32,000. MQS Management LLC grew its position in shares of Hilton Grand Vacations by 7.4% during the 2nd quarter. MQS Management LLC now owns 16,494 shares of the company’s stock worth $667,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Creative Planning grew its position in shares of Hilton Grand Vacations by 17.1% during the 3rd quarter. Creative Planning now owns 15,381 shares of the company’s stock worth $559,000 after purchasing an additional 2,245 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HGV has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of 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. Barclays increased their target price on shares of Hilton Grand Vacations from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Hilton Grand Vacations from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Mizuho reduced their price target on shares of 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, The Goldman Sachs Group initiated coverage on shares of Hilton Grand Vacations in a research report on Wednesday, September 18th. They set a “sell” rating and a $31.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.86.

Hilton Grand Vacations Stock Performance

Shares of Hilton Grand Vacations stock opened at $41.84 on Friday. Hilton Grand Vacations Inc. has a fifty-two week low of $33.21 and a fifty-two week high of $49.02. The company’s 50 day moving average price is $39.24 and its two-hundred day moving average price is $39.29. The firm has a market capitalization of $4.12 billion, a P/E ratio of 47.55, a P/E/G ratio of 2.31 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.

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

Insider Activity

In related news, major shareholder Principal Holdings A. Gp Apollo sold 4,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $42.10, for a total transaction of $168,400,000.00. Following the sale, the insider now directly owns 26,295,825 shares in the company, valued at approximately $1,107,054,232.50. This represents a 13.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles R. Jr. Corbin sold 49,389 shares of the company’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 sale, the insider now owns 88,532 shares in the company, valued at $3,678,504.60. The trade was a 35.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Hilton Grand Vacations 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.