Hilton Grand Vacations Inc (HGV)

Hilton Grand Vacations Stock (HGV) dropped by 8.05% from $37.25 to $34.25 in the trading on Monday November 6, 2023. The reasons why HGV stock down today include

• Mixed earnings results: Hilton Grand Vacations reported a third-quarter FY23 sales decline of 8.8% year-on-year to $1.02 billion, missing the analyst consensus estimate of $1.05 billion. Q3 Non-GAAP EPS of $0.98, beating the consensus by $0.01.
• FY23 outlook: The company is updating its guidance for the full year 2023 Adjusted EBITDA excluding deferrals and recognitions to a range of $1,000 - $1,020M, from the prior $1,090 - $1,120M.
• Bluegreen Vacations acquisition: The company entered into a definitive agreement to acquire Bluegreen Vacations for $75 per share in an all-cash transaction.