In a recent transaction, a Hilton Grand Vacations Inc . (NYSE:HGV) executive has sold a significant amount of company stock, according to a new SEC filing. Carlos Hernandez, who serves as the Senior Vice President and Chief Accounting Officer, parted with 8,293 shares of common stock at an average price of $42.85, yielding a total of $355,355 from the sale.
The shares were sold on May 14, 2024, with prices ranging from $42.80 to $42.925 per share. This price range indicates a weighted average for the transaction, as detailed in the SEC filing footnotes. Hernandez has agreed to provide full information regarding the number of shares sold at each price within the specified range upon request.
Following this transaction, Hernandez still holds 8,012 shares of Hilton Grand Vacations stock, indicating a continued investment in the company's future. The sale was executed directly, as noted in the SEC filing, and the details were signed off by Charles R. Corbin, as Attorney-in-Fact, on May 15, 2024.
Hilton Grand Vacations Inc., known for its hospitality services, continues to be a significant player in the hotels and lodging industry. This stock sale represents a notable change in the ownership stakes for one of its high-ranking executives.
InvestingPro Insights
Hilton Grand Vacations Inc. (NYSE:HGV) has been making headlines not only for executive stock transactions but also for its financial performance and market sentiment. According to the latest InvestingPro data, HGV currently boasts a market capitalization of $4.47 billion, reflecting its significant presence in the hospitality sector. With a forward-looking P/E ratio of 11.84, the company appears to be valued more attractively in terms of earnings compared to the industry average.
The company has also demonstrated a solid revenue growth of 23.24% in the first quarter of 2024, signaling a robust start to the year. This is complemented by a gross profit margin of nearly 30%, indicating efficient operations and a strong ability to convert sales into profit. Moreover, an InvestingPro Tip highlights that analysts are expecting sales growth in the current year, which could suggest a positive outlook for the company's financial health and stock performance.
Investors may also take interest in the company's share buyback activities, as management has been aggressively repurchasing shares. This could be a sign of confidence from Hilton Grand Vacations' leadership in the company's value and future prospects. Additionally, with liquid assets exceeding short-term obligations, the company's financial stability is further reinforced.
For those looking to delve deeper into Hilton Grand Vacations' potential, there are additional InvestingPro Tips available, including insights into earnings revisions and stock price volatility. With a total of 8 InvestingPro Tips, investors can gain a more comprehensive understanding of HGV's position in the market. To access these insights and more, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This could be an invaluable tool for making informed investment decisions in the dynamic hospitality industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.