Bluegreen Vacations Holding Corp. (NYSE:BVH), a vacation ownership company that markets and sells vacation ownership interests, skyrocketed in trading on Monday after announcing that it will be acquired by Hilton Grand Vacations (HGV). Hilton Grand will acquire BVH for around $1.5 billion, including net debt.
As a part of the agreement, Bluegreen Vacations’ stockholders will receive $75.00 in cash for each share of the company’s Class A and Class B common stock when the merger closes. The acquisition is expected to close in the first half of next year.
This acquisition is expected to increase “HGV’s membership base from 525,000 to more than 740,000 owners and its resort portfolio from 150 to nearly 200 properties.”
What is the Analyst Price Target for BVH Stock?
Only one analyst has covered the BVH stock in the past three months and has a Buy rating on the stock. The analyst has a BVH price target of $54, implying a downside potential of 26.1% at current levels. BVH stock has surged by more than 100% year-to-date.
