Clark Street Value sold its position in Hilton Grand Vacations Inc. (NYSE:HGV) stock. Clark Street Value is an individual investor that is focused on finding value and special situation investments. Hilton Grand Vacations Inc. (NYSE:HGV) engages in marketing and sale of vacation ownership interval and management of resorts in urban destinations. In the last one year, Hilton Grand Vacations Inc. (NYSE:HGV) stock lost 10.5% and on January 5th it had a closing price of $30.90.
Clark Street Value said Hilton Grand Vacations Inc. (NYSE:HGV) “probably still gets sold at some point to Apollo (who will pair it with DRII before coming back to the public markets), but I sold to put money to work elsewhere, HGV might be interesting as a re-opening trade.” The investor believes that the stimulus checks would likely be used towards downpayments on timeshares as people prioritize vacations again. Timeshares are like extended stay which features a kitchen and additional space that might be sensible in a post-covid scenario.
In Q3 2020, the number of bullish hedge fund positions on Hilton Grand Vacations Inc. (NYSE:HGV) stock increased by about 7% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in HGV’s growth potential. Our calculations showed that Hilton Grand Vacations Inc. (NYSE:HGV) isn’t ranked among the 30 most popular stocks among hedge funds.
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Video: Top 5 Stocks Among Hedge Funds
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