Redwood Investment Management LLC Has $6.16 Million Stake in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Redwood Investment Management LLC trimmed its holdings in Hilton Worldwide Holdings Inc. (NYSE:HLT) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,311 shares of the company’s stock after selling 6,084 shares during the period. Hilton Worldwide accounts for about 0.5% of Redwood Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Redwood Investment Management LLC’s holdings in Hilton Worldwide were worth $6,159,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. GHP Investment Advisors Inc. acquired a new stake in Hilton Worldwide during the 3rd quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in Hilton Worldwide during the 2nd quarter worth approximately $33,000. NewSquare Capital LLC acquired a new stake in Hilton Worldwide during the 2nd quarter worth approximately $37,000. Family Firm Inc. acquired a new stake in Hilton Worldwide during the 2nd quarter worth approximately $38,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Hilton Worldwide during the 3rd quarter worth approximately $38,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HLT has been the subject of several research reports. Wells Fargo & Company dropped their price target on Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Truist Financial raised their price objective on Hilton Worldwide from $208.00 to $220.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Macquarie raised their price objective on Hilton Worldwide from $205.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Melius Research restated a “hold” rating on shares of Hilton Worldwide in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $228.71.

Hilton Worldwide Stock Up 1.2 %

Shares of HLT stock opened at $254.02 on Thursday. The firm has a market capitalization of $61.92 billion, a P/E ratio of 54.51, a P/E/G ratio of 3.15 and a beta of 1.30. Hilton Worldwide Holdings Inc. has a twelve month low of $166.92 and a twelve month high of $255.86. The stock’s fifty day simple moving average is $241.76 and its 200 day simple moving average is $223.09.

Hilton Worldwide (NYSE:HLT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.90 billion. Hilton Worldwide had a negative return on equity of 60.85% and a net margin of 10.70%. Hilton Worldwide’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS. As a group, equities research analysts expect that Hilton Worldwide Holdings Inc. will post 7 EPS for the current fiscal year.

Hilton Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. Hilton Worldwide’s dividend payout ratio is currently 12.88%.

Hilton Worldwide declared that its Board of Directors has approved a stock buyback program on Thursday, November 14th that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Hilton Worldwide news, insider Laura Fuentes sold 4,919 shares of Hilton Worldwide stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the transaction, the insider now directly owns 15,949 shares of the company’s stock, valued at approximately $3,460,933. The trade was a 23.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael W. Duffy sold 14,357 shares of Hilton Worldwide stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $235.73, for a total value of $3,384,375.61. Following the transaction, the insider now directly owns 22,833 shares in the company, valued at $5,382,423.09. The trade was a 38.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Hilton Worldwide Profile

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.