Why Hilton Grand Vacations Stock Tanked on Monday
An earnings release that featured declines in headline numbers, plus a pricey asset buy, led investors to sell out of travel stock Hilton Grand Vacations (NYSE: HGV). The company's share price took a more than 8% hit on Monday, a notably worse performance than the 0.2% gain of the S 500 index.
The more impactful of the two events was that asset buy, specifically Hilton Grand Vacations' deal to acquire peer company Bluegreen Vacations Holding (NYSE: BVH). The total value of the purchase is roughly $1.5 billion, which includes debt assumption. The deal will be paid for entirely in cash.
That $1.5 billion is a big chunk of change. It also shakes out to $75 per Bluegreen share, which is more than double its Friday closing price.
Source Fool.com
Hilton Inc. Stock
€185.05
0.110%
With 15 Buy predictions and not the single Sell prediction the community is currently very high on Hilton Inc..
As a result the target price of 198 € shows a slightly positive potential of 7.0% compared to the current price of 185.05 € for Hilton Inc..
