JPMorgan Chase & Co. Lowers Stock Position in Hilton Grand Vacations Inc. (NYSE:HGV)

JPMorgan Chase & Co. cut its holdings in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,028 shares of the company’s stock after selling 51,418 shares during the period. JPMorgan Chase & Co. owned 0.45% of Hilton Grand Vacations worth $16,200,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of Hilton Grand Vacations during the third quarter worth approximately $25,000. Blue Trust Inc. grew its position in shares of Hilton Grand Vacations by 141.7% during the third quarter. Blue Trust Inc. now owns 1,003 shares of the company’s stock worth $36,000 after acquiring an additional 588 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Hilton Grand Vacations in the 2nd quarter valued at $93,000. Ashton Thomas Private Wealth LLC purchased a new position in Hilton Grand Vacations in the 2nd quarter valued at $120,000. Finally, Wittenberg Investment Management Inc. purchased a new position in Hilton Grand Vacations in the 3rd quarter valued at $345,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Hilton Grand Vacations Trading Down 0.9 %

NYSE:HGV opened at $37.99 on Friday. The company has a market capitalization of $3.74 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.86. The company has a quick ratio of 3.08, a current ratio of 4.83 and a debt-to-equity ratio of 3.32. Hilton Grand Vacations Inc. has a 52-week low of $33.21 and a 52-week high of $49.02. The stock has a fifty day simple moving average of $40.49 and a 200-day simple moving average of $39.06.

Hilton Grand Vacations (NYSE:HGV) last released 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 return on equity of 16.44% and a net margin of 2.01%. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. On average, equities research analysts expect that Hilton Grand Vacations Inc. will post 3.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HGV shares. Truist Financial lowered their price objective 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. JMP Securities reduced their target price on Hilton Grand Vacations from $55.00 to $50.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Barclays reissued an “equal weight” rating and issued a $41.00 target price (down previously from $44.00) on shares of Hilton Grand Vacations in a report on Friday, December 13th. The Goldman Sachs Group raised their target price on Hilton Grand Vacations from $33.00 to $37.00 and gave the company a “sell” rating in a report on Tuesday, December 10th. Finally, Mizuho reduced their target price on Hilton Grand Vacations from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

Insider Activity at Hilton Grand Vacations

In related news, insider Charles R. Jr. Corbin sold 49,389 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 shares were 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 of the company’s stock, valued at $1,107,054,232.50. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

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.