Parnassus Investments LLC Acquires 86,408 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Parnassus Investments LLC boosted its position in Hilton Worldwide Holdings Inc. (NYSE:HLTFree Report) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 899,192 shares of the company’s stock after buying an additional 86,408 shares during the quarter. Parnassus Investments LLC owned approximately 0.35% of Hilton Worldwide worth $135,041,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in HLT. OFI Invest Asset Management acquired a new position in shares of Hilton Worldwide during the 3rd quarter worth approximately $25,000. Exchange Traded Concepts LLC bought a new position in Hilton Worldwide in the 3rd quarter valued at approximately $31,000. Bartlett & Co. LLC bought a new stake in Hilton Worldwide during the 3rd quarter worth $33,000. VitalStone Financial LLC increased its position in Hilton Worldwide by 115.4% in the 1st quarter. VitalStone Financial LLC now owns 224 shares of the company’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in Hilton Worldwide by 494.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 232 shares of the company’s stock valued at $36,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.

Hilton Worldwide Trading Down 1.1 %

Shares of NYSE:HLT traded down $2.16 during trading on Monday, reaching $192.85. The company’s stock had a trading volume of 212,408 shares, compared to its average volume of 1,395,344. The stock has a market capitalization of $49.45 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.26. Hilton Worldwide Holdings Inc. has a 12 month low of $129.86 and a 12 month high of $196.18. The firm’s 50 day simple moving average is $180.63 and its two-hundred day simple moving average is $163.10.

Hilton Worldwide announced that its board has approved a share repurchase plan on Thursday, November 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on HLT. Jefferies Financial Group upped their price target on Hilton Worldwide from $157.00 to $182.00 and gave the stock a “hold” rating in a report on Tuesday, January 2nd. Barclays upped their price objective on shares of Hilton Worldwide from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, January 29th. HSBC assumed coverage on Hilton Worldwide in a research report on Monday, October 23rd. They issued a “buy” rating and a $191.00 price target for the company. Raymond James upped their price target on shares of Hilton Worldwide from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Truist Financial upped their price target on shares of Hilton Worldwide from $172.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Hilton Worldwide currently has a consensus rating of “Hold” and an average target price of $171.79.

Get Our Latest Stock Report on HLT

Insider Buying and Selling

In related news, insider Christopher W. Silcock sold 10,863 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $166.61, for a total transaction of $1,809,884.43. Following the completion of the transaction, the insider now owns 58,256 shares in the company, valued at approximately $9,706,032.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

About Hilton Worldwide

(Free Report)

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 premium economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.

Further Reading

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Institutional Ownership by Quarter for Hilton Worldwide (NYSE:HLT)

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