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
€198.00
-2.130%
Hilton Inc. is currently one of the favorites of our community with 18 Buy predictions and no Sell predictions.
With a target price of 208 € there is a slightly positive potential of 5.05% for Hilton Inc. compared to the current price of 198.0 €.
