Cubist Systematic Strategies LLC Sells 62,891 Shares of Hilton Grand Vacations Inc. (NYSE:HGV)

Posted by on Mar 8th, 2023

Cubist Systematic Strategies LLC reduced its position in Hilton Grand Vacations Inc. (NYSE:HGV – Get Rating) by 39.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 95,191 shares of the company’s stock after selling 62,891 shares during the period. Cubist Systematic Strategies LLC owned 0.08% of Hilton Grand Vacations worth $3,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Hilton Grand Vacations by 327.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 547 shares of the company’s stock valued at $28,000 after acquiring an additional 419 shares during the period. Penserra Capital Management LLC bought a new stake in Hilton Grand Vacations in the 1st quarter valued at about $37,000. Covestor Ltd raised its stake in Hilton Grand Vacations by 642.2% in the 1st quarter. Covestor Ltd now owns 1,195 shares of the company’s stock valued at $62,000 after acquiring an additional 1,034 shares during the period. Lazard Asset Management LLC bought a new stake in Hilton Grand Vacations in the 3rd quarter valued at about $96,000. Finally, Toroso Investments LLC bought a new stake in Hilton Grand Vacations in the 1st quarter valued at about $218,000. 93.66% of the stock is currently owned by institutional investors.

Hilton Grand Vacations Stock Performance

Shares of HGV stock opened at $49.14 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 2.45 and a current ratio of 3.45. Hilton Grand Vacations Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $54.55. The stock has a 50 day moving average price of $45.33 and a two-hundred day moving average price of $41.55. The company has a market capitalization of $5.51 billion, a P/E ratio of 16.77 and a beta of 2.04.

Hilton Grand Vacations (NYSE:HGV – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.24. Hilton Grand Vacations had a return on equity of 18.56% and a net margin of 9.18%. The firm had revenue of $992.00 million during the quarter, compared to the consensus estimate of $975.45 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business’s revenue was up 18.4% on a year-over-year basis. Analysts expect that Hilton Grand Vacations Inc. will post 4.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HGV. Jefferies Financial Group cut Hilton Grand Vacations from a “buy” rating to a “hold” rating and lowered their price objective for the company from $68.00 to $52.00 in a research note on Friday, February 3rd. Barclays lifted their target price on Hilton Grand Vacations from $50.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Truist Financial lifted their target price on Hilton Grand Vacations from $62.00 to $75.00 and gave the company a “buy” rating in a report on Monday. TheStreet raised Hilton Grand Vacations from a “c+” rating to a “b-” rating in a report on Monday, November 14th. Finally, StockNews.com lowered Hilton Grand Vacations from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hilton Grand Vacations currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Buying and Selling at Hilton Grand Vacations

In other Hilton Grand Vacations news, insider Mark D. Wang sold 49,850 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $47.69, for a total value of $2,377,346.50. Following the completion of the sale, the insider now owns 545,114 shares in the company, valued at $25,996,486.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

About Hilton Grand Vacations

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Hilton Grand Vacations, Inc engages in the marketing and sale of vacation ownership interval and management of resorts in urban destinations. It operates through the Real Estate Sales and Financing, and Resort Operations and Club Management segments. The Real Estate Sales and Financing segment refers to the sale of vacation ownership intervals on behalf of third-party developers using the Hilton Grand Vacations brand in exchange for sales, marketing and brand fees, and financing solutions.

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Institutional Ownership by Quarter for Hilton Grand Vacations (NYSE:HGV)

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