Parsifal Capital Management LP Acquires New Holdings in Hilton Grand Vacations Inc. $HGV

Parsifal Capital Management LP bought a new position in Hilton Grand Vacations Inc. (NYSE:HGV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,078,729 shares of the company’s stock, valued at approximately $108,863,038,000. Hilton Grand Vacations comprises approximately 13.2% of Parsifal Capital Management LP’s investment portfolio, making the stock its 2nd biggest position. Parsifal Capital Management LP owned 2.67% of Hilton Grand Vacations at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Hilton Grand Vacations in the 2nd quarter worth $422,842,000. Dimensional Fund Advisors LP increased its position in Hilton Grand Vacations by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,869,731 shares of the company’s stock valued at $151,375,000 after acquiring an additional 60,624 shares during the last quarter. Mudita Advisors LLP lifted its holdings in Hilton Grand Vacations by 11.7% in the fourth quarter. Mudita Advisors LLP now owns 2,607,012 shares of the company’s stock valued at $116,664,000 after acquiring an additional 273,866 shares during the period. UBS Group AG boosted its position in Hilton Grand Vacations by 34.4% in the third quarter. UBS Group AG now owns 2,258,391 shares of the company’s stock worth $94,423,000 after purchasing an additional 577,772 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Hilton Grand Vacations by 36.8% in the fourth quarter. Franklin Resources Inc. now owns 1,936,994 shares of the company’s stock worth $86,680,000 after purchasing an additional 521,109 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hilton Grand Vacations news, insider Charles R. Jr. Corbin sold 20,691 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $46.90, for a total transaction of $970,407.90. Following the completion of the transaction, the insider owned 47,924 shares of the company’s stock, valued at $2,247,635.60. This represents a 30.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark D. Wang sold 190,813 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $51.93, for a total value of $9,908,919.09. Following the transaction, the insider owned 904,241 shares of the company’s stock, valued at approximately $46,957,235.13. The trade was a 17.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

HGV has been the subject of a number of recent research reports. Truist Financial boosted their price target on Hilton Grand Vacations from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Wall Street Zen downgraded shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Mizuho cut their target price on shares of Hilton Grand Vacations from $75.00 to $74.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Barclays decreased their price target on shares of Hilton Grand Vacations from $51.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hilton Grand Vacations in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hilton Grand Vacations presently has an average rating of “Hold” and an average price target of $54.89.

Hilton Grand Vacations Trading Down 0.1%

Shares of HGV opened at $45.05 on Monday. The firm has a market cap of $3.50 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The company has a debt-to-equity ratio of 6.18, a current ratio of 5.02 and a quick ratio of 3.20. Hilton Grand Vacations Inc. has a 1 year low of $36.79 and a 1 year high of $55.40. The company has a 50 day simple moving average of $49.22 and a two-hundred day simple moving average of $47.02.

Hilton Grand Vacations (NYSE:HGV) last released its earnings results on Thursday, July 30th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.05). Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm posted $0.54 EPS. Hilton Grand Vacations’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Hilton Grand Vacations Inc. will post 4.61 earnings per share for the current fiscal year.

Hilton Grand Vacations declared that its Board of Directors has approved a share repurchase plan on Thursday, August 20th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the company to repurchase up to 17% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Hilton Grand Vacations Profile

Hilton Grand Vacations Inc is a leading developer and marketer of premium vacation ownership resorts. The company specializes in selling timeshare interests in vacation properties under the Hilton Grand Vacations brand, enabling members to purchase deeded real estate interests and utilize a points-based system for booking stays. Alongside new sales, the company provides ongoing management services for its portfolio of resorts, ensuring high standards of guest services, resort maintenance, and member engagement through its proprietary technology platform.

In addition to vacation ownership sales, Hilton Grand Vacations offers a comprehensive suite of membership benefits.