** Shares of timeshare operator Hilton Grand Vacations HGV.N down 2.3% at $43.95 after secondary offering news

** Orlando, Florida-based firm HGV says entities managed by Apollo Global Management APO.N to offload 7 mln shares

** Also, HGV to concurrently repurchase $40 mln worth of the offering shares from the underwriters

** Wells Fargo is lead bookrunner for the offering

** Prior to the offering, Apollo owns ~26.3 mln shares for nearly 30% stake in HGV

** With ~89 mln shares outstanding, HGV has $4 bln market cap

** HGV shares on Tues rose 3.4% to $44.97, extending YTD gain to ~15%

** Of 9 analysts covering HGV, 5 rate "buy", 3 have "hold" and 1 has "sell" rating; median PT of $51 up from $42.50 a month ago, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))