Marriott Vacations Worldwide Corp. (VAC) Increased its Outlook for New Timeshare Sales

Baron Funds, an asset management company, released its “Baron Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund fell 18.69%. The fund performed moderately better in the quarter compared to a 19.25% decline in the Russell 2000 Growth benchmark Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like Marriott Vacations Worldwide Corporation (NYSE:VAC). Headquartered in Orlando, Florida, Marriott Vacations Worldwide Corporation (NYSE:VAC) is a vacation company. On September 1, 2022 Marriott Vacations Worldwide Corporation (NYSE:VAC) stock closed at $139.43 per share. One-month return of Marriott Vacations Worldwide Corporation (NYSE:VAC) was -0.87% and its shares lost 7.66% of their value over the last 52 weeks. Marriott Vacations Worldwide Corporation (NYSE:VAC) has a market capitalization of $5.478 billion.

Here is what Baron Funds specifically said about Marriott Vacations Worldwide Corporation (NYSE:VAC):

“Finally, timeshare leader Marriott Vacations Worldwide Corporation (NYSE:VAC) recently increased its outlook for new timeshare sales last month, boosted by very high occupancy, strong tour growth, and sustained spending per owner.”

Marriott Vacations Worldwide Corporation (NYSE:VAC) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Marriott Vacations Worldwide Corporation (NYSE:VAC) was held by 22 hedge fund portfolios at the end of the second quarter, which was 25 in the previous quarter.

We discussed Marriott Vacations Worldwide Corporation (NYSE:VAC) in another article and shared Baron Funds’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.