Gruss Capital Management LP lowered its stake in ILG Inc. (NASDAQ:ILG) by 27.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,300,000 shares of the business services provider’s stock after selling 480,000 shares during the quarter. ILG comprises approximately 3.0% of Gruss Capital Management LP’s holdings, making the stock its 9th largest holding. Gruss Capital Management LP owned 1.05% of ILG worth $34,749,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Huntington National Bank bought a new stake in shares of ILG in the 3rd quarter worth about $128,000. Advisor Group Inc. grew its holdings in ILG by 28.0% during the 2nd quarter. Advisor Group Inc. now owns 5,114 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 1,119 shares during the last quarter. Creative Planning grew its holdings in ILG by 6.3% during the 2nd quarter. Creative Planning now owns 5,325 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 316 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ILG by 11.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,354 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 550 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in ILG during the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 80.27% of the company’s stock.
Several research firms have issued reports on ILG. BidaskClub raised shares of ILG from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Zacks Investment Research cut shares of ILG from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Nomura initiated coverage on shares of ILG in a research report on Friday, October 6th. They issued a “buy” rating and a $35.00 price target for the company. Instinet initiated coverage on shares of ILG in a research report on Friday, October 6th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Oppenheimer upped their price target on shares of ILG from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $30.50.
ILG (NASDAQ:ILG) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The company had revenue of $446.00 million for the quarter, compared to analyst estimates of $429.56 million. ILG had a net margin of 7.04% and a return on equity of 10.46%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. equities research analysts anticipate that ILG Inc. will post 1.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, December 5th were paid a $0.15 dividend. The ex-dividend date was Monday, December 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.11%. ILG’s payout ratio is currently 58.82%.
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ILG, Inc, formerly Interval Leisure Group, Inc, is a provider of professionally delivered vacation experiences. The Company is a global licensee for the Hyatt, Westin and Sheraton brands in vacation ownership. The Company operates through two segments: Exchange and Rental, and Vacation Ownership. Its Exchange and Rental segment offers access to vacation accommodations and other travel-related transactions and services to leisure travelers, by providing vacation exchange services and vacation rental, working with resort developers and operating vacation rental properties.
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