Share Buyback Plan Announced by Hilton Grand Vacations (NYSE:HGV)

Hilton Grand Vacations (NYSE:HGV) declared that its board has approved a stock repurchase plan on Thursday, August 20th, RTT News reports. The company plans to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 17% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Hilton Grand Vacations Stock Performance

Shares of NYSE:HGV traded down $0.49 during trading on Thursday, hitting $44.83. 1,276,876 shares of the company were exchanged, compared to its average volume of 1,178,784. The company has a market cap of $3.48 billion, a PE ratio of 25.33, a P/E/G ratio of 0.45 and a beta of 1.53. The stock has a 50 day moving average of $49.33 and a 200 day moving average of $47.03. Hilton Grand Vacations has a 52-week low of $36.79 and a 52-week high of $55.40. 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 (NYSE:HGV) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Hilton Grand Vacations had a return on equity of 20.40% and a net margin of 2.86%.Hilton Grand Vacations’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, equities research analysts predict that Hilton Grand Vacations will post 4.61 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HGV. Wall Street Zen lowered Hilton Grand Vacations from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hilton Grand Vacations in a research report on Friday, May 29th. The Goldman Sachs Group cut their price target on Hilton Grand Vacations from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Truist Financial lifted their price objective on Hilton Grand Vacations from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Zacks Research cut Hilton Grand Vacations from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.89.

Insider Transactions at Hilton Grand Vacations

In other Hilton Grand Vacations news, insider Charles R. Jr. Corbin sold 20,691 shares of Hilton Grand Vacations stock in a transaction dated Thursday, August 6th. The stock was 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. The trade was a 30.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark D. Wang sold 190,813 shares of Hilton Grand Vacations 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 directly owned 904,241 shares of the company’s stock, valued at $46,957,235.13. The trade was a 17.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.10% of the company’s stock.

Hilton Grand Vacations Company 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.