Longboard Asset Management LP Acquires New Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Longboard Asset Management LP bought a new position in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 978 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds also recently added to or reduced their stakes in HLT. Principal Financial Group Inc. increased its stake in Hilton Worldwide by 15.3% in the 3rd quarter. Principal Financial Group Inc. now owns 10,756,416 shares of the company’s stock valued at $2,479,354,000 after purchasing an additional 1,429,537 shares in the last quarter. Jennison Associates LLC grew its holdings in Hilton Worldwide by 33.2% in the third quarter. Jennison Associates LLC now owns 3,234,809 shares of the company’s stock valued at $745,624,000 after purchasing an additional 806,029 shares during the last quarter. Stockbridge Partners LLC increased its position in shares of Hilton Worldwide by 63.6% in the third quarter. Stockbridge Partners LLC now owns 1,544,399 shares of the company’s stock valued at $355,984,000 after buying an additional 600,593 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Hilton Worldwide by 23,730.1% during the 3rd quarter. International Assets Investment Management LLC now owns 479,223 shares of the company’s stock worth $1,104,610,000 after buying an additional 477,212 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Hilton Worldwide by 2.1% in the 3rd quarter. FMR LLC now owns 11,215,391 shares of the company’s stock worth $2,585,148,000 after buying an additional 226,223 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Hilton Worldwide Trading Up 0.2 %

HLT stock opened at $256.68 on Tuesday. The company has a market cap of $62.57 billion, a PE ratio of 55.08, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. The stock has a 50-day moving average price of $249.60 and a two-hundred day moving average price of $234.56. Hilton Worldwide Holdings Inc. has a 12-month low of $186.83 and a 12-month high of $259.01.

Hilton Worldwide announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 14th that permits the company to repurchase $3.50 billion in shares. This repurchase authorization permits the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Michael W. Duffy sold 23,366 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $251.66, for a total value of $5,880,287.56. Following the completion of the sale, the insider now owns 22,833 shares of the company’s stock, valued at $5,746,152.78. This represents a 50.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

HLT has been the subject of a number of research reports. Mizuho lifted their target price on shares of Hilton Worldwide from $237.00 to $243.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on Hilton Worldwide from $247.00 to $277.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. TD Cowen lowered their target price on Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Evercore ISI boosted their price target on Hilton Worldwide from $210.00 to $240.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Finally, Barclays increased their price objective on Hilton Worldwide from $243.00 to $268.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Hilton Worldwide has an average rating of “Hold” and a consensus price target of $238.24.

About Hilton Worldwide

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.