The Manufacturers Life Insurance Company Trims Stock Position in Hilton Grand Vacations Inc. (NYSE:HGV)

The Manufacturers Life Insurance Company decreased its position in Hilton Grand Vacations Inc. (NYSE:HGV) by 6.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,767 shares of the company’s stock after selling 5,735 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Hilton Grand Vacations worth $3,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Long Pond Capital LP lifted its holdings in shares of Hilton Grand Vacations by 218.0% in the 2nd quarter. Long Pond Capital LP now owns 1,200,920 shares of the company’s stock worth $48,553,000 after buying an additional 823,228 shares during the period. Millennium Management LLC increased its position in Hilton Grand Vacations by 44.5% during 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 during the period. Dimensional Fund Advisors LP raised its holdings in shares of Hilton Grand Vacations by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,953,170 shares of the company’s stock valued at $78,961,000 after purchasing an additional 162,459 shares in the last quarter. Iridian Asset Management LLC CT lifted its position in shares of Hilton Grand Vacations by 63.9% in the 2nd quarter. Iridian Asset Management LLC CT now owns 287,620 shares of the company’s stock worth $11,628,000 after purchasing an additional 112,117 shares during the period. Finally, Khrom Capital Management LLC bought a new position in shares of Hilton Grand Vacations during the second quarter valued at approximately $3,872,000. Institutional investors own 97.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group began coverage on shares of Hilton Grand Vacations in a research note on Wednesday, September 18th. They issued a “sell” rating and a $31.00 price objective for the company. Mizuho reduced their price target on Hilton Grand Vacations from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Barclays raised their price objective on Hilton Grand Vacations from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Truist Financial reduced their target price on shares of Hilton Grand Vacations from $52.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of Hilton Grand Vacations from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Hilton Grand Vacations has a consensus rating of “Hold” and a consensus price target of $43.86.

Hilton Grand Vacations Price Performance

Shares of HGV stock opened at $41.84 on Friday. The stock’s 50-day simple moving average is $39.24 and its 200-day simple moving average is $39.29. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 2.31 and a beta of 1.85. The company has a debt-to-equity ratio of 3.32, a quick ratio of 3.08 and a current ratio of 4.83. Hilton Grand Vacations Inc. has a fifty-two week low of $33.21 and a fifty-two week high of $49.02.

Hilton Grand Vacations (NYSE:HGV) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). Hilton Grand Vacations had a return on equity of 16.44% and a net margin of 2.01%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up 28.3% on a year-over-year basis. As a group, equities analysts forecast that Hilton Grand Vacations Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Transactions at Hilton Grand Vacations

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

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.