Merrion Investment Management Co LLC Takes Position in Hilton Worldwide Holdings Inc. (NYSE:HLT)

Merrion Investment Management Co LLC purchased a new stake in Hilton Worldwide Holdings Inc. (NYSE:HLT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,000 shares of the company’s stock, valued at approximately $247,000.

Other large investors have also made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new stake in Hilton Worldwide in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Hilton Worldwide in the 4th quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new stake in Hilton Worldwide in the 3rd quarter valued at about $38,000. True Wealth Design LLC grew its stake in Hilton Worldwide by 2,400.0% in the 3rd quarter. True Wealth Design LLC now owns 175 shares of the company’s stock valued at $40,000 after acquiring an additional 168 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Hilton Worldwide in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael W. Duffy sold 23,366 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $251.66, for a total value of $5,880,287.56. Following the transaction, the insider now owns 22,833 shares in the company, valued at approximately $5,746,152.78. This trade represents a 50.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Hilton Worldwide Stock Performance

HLT opened at $254.13 on Thursday. The company’s 50 day simple moving average is $249.36 and its 200 day simple moving average is $233.88. Hilton Worldwide Holdings Inc. has a 1 year low of $186.83 and a 1 year high of $259.01. The stock has a market capitalization of $61.95 billion, a PE ratio of 54.53, a P/E/G ratio of 2.78 and a beta of 1.30.

Hilton Worldwide declared that its board has approved a stock buyback plan on Thursday, November 14th that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Melius Research reissued a “hold” rating on shares of Hilton Worldwide in a research note on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of Hilton Worldwide from $237.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price target on shares of Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. TD Cowen decreased their price target on shares of Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on shares of Hilton Worldwide from $247.00 to $277.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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.com, Hilton Worldwide has a consensus rating of “Hold” and an average price target of $238.24.

Hilton Worldwide Company 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.