Fred Alger Management LLC Sells 36,578 Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT)

Fred Alger Management LLC lowered its holdings in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT - Free Report) by 91.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,263 shares of the company's stock after selling 36,578 shares during the period. Fred Alger Management LLC's holdings in Hilton Worldwide were worth $806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in Hilton Worldwide during the fourth quarter worth approximately $27,000. VSM Wealth Advisory LLC acquired a new stake in Hilton Worldwide during the 4th quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Hilton Worldwide during the fourth quarter worth approximately $34,000. Sierra Ocean LLC acquired a new stake in Hilton Worldwide in the fourth quarter valued at $36,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Hilton Worldwide in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HLT shares. Raymond James upped their price target on shares of Hilton Worldwide from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Evercore ISI dropped their price target on shares of Hilton Worldwide from $275.00 to $245.00 and set an "in-line" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price objective on Hilton Worldwide from $251.00 to $241.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Barclays decreased their target price on shares of Hilton Worldwide from $233.00 to $232.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Susquehanna raised their price objective on Hilton Worldwide from $247.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $245.56.

Hilton Worldwide Stock Down 1.2%

HLT stock traded down $3.03 during midday trading on Wednesday, hitting $252.98. 2,098,083 shares of the company traded hands, compared to its average volume of 1,762,218. Hilton Worldwide Holdings Inc. has a twelve month low of $194.93 and a twelve month high of $275.22. The business has a 50 day simple moving average of $225.48 and a 200-day simple moving average of $242.91. The stock has a market capitalization of $60.13 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23.

Hilton Worldwide (NYSE:HLT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.11. The company had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $2.73 billion. Hilton Worldwide had a net margin of 13.74% and a negative return on equity of 54.47%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 earnings per share. Equities research analysts forecast that Hilton Worldwide Holdings Inc. will post 7.89 EPS for the current year.

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.