HGV Stock Recent News

A huge high-premium asset buy turned investors away from the leisure specialist. The company also reported top- and bottom-line slumps in its third quarter.

Bluegreen Vacations is on track to bought by Hilton Grand Vacations in an all-cash deal. Hilton Grand Vacations will pay $75 per share to acquire Bluegreen.

Hilton Grand Vacations (HGV) announced Monday it has entered into a definitive agreement to acquire Bluegreen Vacations for about $1.5 billion to expand its customer base and offerings. HGV, a timeshare company partnered with Hilton Worldwide Holdings Inc (NYSE:HLT), will pay $75 per share for Bluegreen Vacations, almost double the company's closing price on Friday of US$35.52 The deal will increase HGV's customer base from 525,000 to more than 740,000 and will expand its resort portfolio from 150 to nearly 200 properties, including resorts in eight new states.

Hilton Grand Vacations Inc. HGV, +4.31% announced Monday an agreement to buy Bluegreen Vacations Inc. BVH, +5.37% in cash deal valued at $1.5 billion, including debt. Under terms of the deal, Hilton will pay $75 in cash for each Bluegreen share outstanding, which represents a 111.1% premium over Friday's stock closing price of $35.52, and implies a market capitalization for Bluegreen of about $1.28 billion.

We have identified four stocks from the consumer discretionary sector that are set to gain from the pause in interest rate hikes. These are LYV, RCL, OSW, HGV and IHG.

Consumer discretionary stocks like Alto Ingredients, Inc. (ALTO), Hilton Grand Vacations Inc. (HGV), Marriott International, Inc. (MAR), Royal Caribbean Cruises Ltd. (RCL) and OneSpaWorld Holdings Limited (OSW) are likely to benefit from the rise in consumer spending.

The article highlights the business performance of HGV, emphasizing its strength in maintaining sales and profitability. HGV tours are gaining momentum, attracting new buyers. However, the VPG is facing pressure given the new customer mix. HGV has an aggressive agenda for new owner growth, which may not perform well as expected. Net Owner Growth is only at 2.8% for now.

HMC, ASBFY and HGV made it to the Zacks Rank #1 (Strong Buy) value stocks list on June 30, 2023.

Shares of Hilton Grand Vacations Inc. HGV climbed 1.0% in premarket trading Monday, after the timeshare company approved a new $500 million share repurchase program. The new two-year program will kick off once the previous $500 million program, which has $83 million remaining at the end of April, is completed.

Hilton Grand Vacations, Inc. started the year with sustained revenue growth and stable margins. Market conditions are mixed, but growth prospects remain attractive.