Jorge Pablo Brizi, Executive Vice President and Chief Human Resources Officer & Corporate Affairs at Hilton Grand Vacations Inc . (NYSE:HGV), recently sold 20,000 shares of the company's common stock. The shares were sold at a weighted average price of $42.31, resulting in a total transaction value of approximately $846,200. This sale leaves Brizi with 31,855 shares of Hilton Grand Vacations following the transaction. The shares were sold at prices ranging from $42.20 to $42.49.
In other recent news, Hilton Grand Vacations Inc. has reported third-quarter earnings that did not meet analyst expectations, with adjusted earnings per share at $0.67, falling short of the anticipated $0.76. However, the company's revenue of $1.31 billion slightly exceeded the predicted $1.29 billion. Amid these developments, the company maintained its full-year 2024 guidance for adjusted EBITDA, projecting between $1.075 billion to $1.135 billion.
Additionally, Hilton Grand Vacations successfully completed a notable securitization of timeshare loans, totaling $500 million. This transaction, the company's largest to date, involved the issuance of three classes of Notes, with an overall advance rate of 98%. The proceeds from this issuance are earmarked for debt repayment and other general corporate purposes.
Furthermore, Hilton Grand Vacations has amended its license agreement following the recent acquisition of Bluegreen Vacations (NYSE:BXG) Holding Corporation. The updated agreement includes a rebranding plan for Bluegreen properties under HGV brands and an escalated royalty fee structure. This strategic move is part of HGV's ongoing efforts to expand its portfolio and enhance its market presence in the hospitality industry.
InvestingPro Insights
Following Jorge Pablo Brizi's recent sale of 20,000 shares, it's worth noting some key financial metrics and insights about Hilton Grand Vacations Inc. (NYSE:HGV) from InvestingPro.
As of the latest data, HGV's market capitalization stands at $4.31 billion. The company has shown strong revenue growth, with a 18.38% increase over the last twelve months as of Q3 2024, reaching $4.24 billion. This growth trend is further emphasized by the quarterly revenue growth of 27.69% in Q3 2024.
InvestingPro Tips highlight that management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. Additionally, analysts anticipate sales growth in the current year, aligning with the company's recent performance.
However, it's important to note that HGV's stock price movements are quite volatile, which investors should consider when evaluating the recent insider sale. The company has shown a strong return over the last month and three months, with price total returns of 20.91% and 22.63% respectively.
For those interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for HGV, providing a deeper understanding of the company's financial health and market position.
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