Covey Capital Advisors LLC Boosts Stock Position in Hilton Grand Vacations Inc. (NYSE:HGV)

Covey Capital Advisors LLC increased its position in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 368.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,148 shares of the company’s stock after acquiring an additional 38,664 shares during the period. Hilton Grand Vacations comprises 2.0% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Covey Capital Advisors LLC’s holdings in Hilton Grand Vacations were worth $1,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Hilton Grand Vacations by 39.0% during the third quarter. FMR LLC now owns 3,271,387 shares of the company’s stock worth $118,817,000 after purchasing an additional 917,397 shares in the last quarter. Millennium Management LLC increased its stake 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 worth $91,752,000 after buying an additional 698,664 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Hilton Grand Vacations by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,953,170 shares of the company’s stock worth $78,961,000 after buying an additional 162,459 shares in the last quarter. Long Pond Capital LP boosted its position in 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 valued at $48,553,000 after buying an additional 823,228 shares during the period. Finally, Mudita Advisors LLP grew its stake in shares of Hilton Grand Vacations by 1.1% in the third quarter. Mudita Advisors LLP now owns 916,765 shares of the company’s stock worth $33,297,000 after acquiring an additional 9,800 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Hilton Grand Vacations Price Performance

Shares of NYSE HGV opened at $41.74 on Friday. The stock’s 50-day simple moving average is $38.74 and its 200-day simple moving average is $39.33. The firm has a market capitalization of $4.11 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 2.27 and a beta of 1.82. Hilton Grand Vacations Inc. has a fifty-two week low of $33.21 and a fifty-two week high of $49.02. 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 (NYSE:HGV) last released its quarterly earnings data 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 return on equity of 16.44% and a net margin of 2.01%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities research analysts forecast that Hilton Grand Vacations Inc. will post 3.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HGV shares. Truist Financial reduced their price objective on Hilton Grand Vacations from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered Hilton Grand Vacations from a “buy” rating to a “hold” rating and reduced their price target for the company from $55.00 to $35.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. downgraded Hilton Grand Vacations from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $36.00 in a research report on Friday, August 9th. StockNews.com upgraded shares of Hilton Grand Vacations from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, The Goldman Sachs Group assumed coverage on shares of Hilton Grand Vacations in a report on Wednesday, September 18th. They set a “sell” rating and a $31.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.86.

Insider Activity at Hilton Grand Vacations

In other news, major shareholder Principal Holdings A. Gp Apollo sold 4,000,000 shares of Hilton Grand Vacations stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $41.55, for a total transaction of $2,052,112.95. Following the completion of the sale, the insider now owns 88,532 shares of the company’s stock, valued at approximately $3,678,504.60. This trade represents a 35.81 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Hilton Grand Vacations Company 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.