Parsifal Capital Management LP Makes New $108.86 Million Investment in Hilton Grand Vacations Inc. $HGV

Parsifal Capital Management LP bought a new position in shares of Hilton Grand Vacations Inc. (NYSE:HGV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,078,729 shares of the company’s stock, valued at approximately $108,863,038. Hilton Grand Vacations comprises about 0.0% of Parsifal Capital Management LP’s investment portfolio, making the stock its 2nd largest holding. Parsifal Capital Management LP owned approximately 2.67% of Hilton Grand Vacations at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HGV. BlackRock Inc. acquired a new position in shares of Hilton Grand Vacations in the second quarter worth $422,842,000. Geode Capital Management LLC boosted its holdings in shares of Hilton Grand Vacations by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,472,796 shares of the company’s stock worth $65,919,000 after acquiring an additional 25,020 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Hilton Grand Vacations in the 2nd quarter valued at about $7,061,000. TrinityBridge Ltd acquired a new stake in Hilton Grand Vacations in the 2nd quarter worth about $52,540,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hilton Grand Vacations by 93,334.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 51,389 shares of the company’s stock valued at $2,300,000 after acquiring an additional 51,334 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Hilton Grand Vacations Stock Up 0.5%

NYSE:HGV traded up $0.21 during trading hours on Friday, reaching $44.04. The company had a trading volume of 264,856 shares, compared to its average volume of 966,464. Hilton Grand Vacations Inc. has a twelve month low of $36.79 and a twelve month high of $55.40. The business’s 50-day simple moving average is $48.65 and its two-hundred day simple moving average is $46.97. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 24.88, a P/E/G ratio of 0.44 and a beta of 1.53. The company has a quick ratio of 3.20, a current ratio of 5.02 and a debt-to-equity ratio of 6.18.

Hilton Grand Vacations (NYSE:HGV) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). Hilton Grand Vacations had a net margin of 2.86% and a return on equity of 20.40%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company posted $0.54 EPS. The business’s revenue for the quarter 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 year.

Hilton Grand Vacations declared that its Board of Directors has initiated a share buyback program on Thursday, August 20th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the company to purchase up to 17% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Charles R. Jr. Corbin sold 20,691 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $46.90, for a total value of $970,407.90. Following the completion of the sale, the insider owned 47,924 shares in the company, 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 through the SEC website. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho dropped their price target on 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. Weiss Ratings restated a “hold (c)” rating on shares of Hilton Grand Vacations in a research note on Wednesday. Susquehanna assumed coverage on Hilton Grand Vacations in a research report on Tuesday, August 18th. They issued a “neutral” rating and a $50.00 target price for the company. Morgan Stanley reduced their price objective on Hilton Grand Vacations from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, August 18th. Finally, Wall Street Zen lowered Hilton Grand Vacations from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.89.

About Hilton Grand Vacations

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.