20,619 Hilton Worldwide Holdings Inc. $HLT Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in shares of Hilton Worldwide Holdings Inc. (NYSE:HLT) by 73.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,510 shares of the company’s stock after selling 20,619 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Hilton Worldwide were worth $2,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Frazier Financial Advisors LLC bought a new position in Hilton Worldwide in the second quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in shares of Hilton Worldwide during the second quarter worth about $26,000. Trust Co. of Vermont bought a new stake in shares of Hilton Worldwide during the second quarter worth about $26,000. Elevation Wealth Partners LLC grew its holdings in shares of Hilton Worldwide by 1,128.6% during the second quarter. Elevation Wealth Partners LLC now owns 86 shares of the company’s stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new position in shares of Hilton Worldwide in the second quarter valued at approximately $31,000. Institutional investors own 95.90% of the company’s stock.

Insider Activity

In other news, Director Chris Carr sold 439 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $310.34, for a total value of $136,239.26. Following the sale, the director directly owned 8,252 shares of the company’s stock, valued at approximately $2,560,925.68. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laura Fuentes sold 7,289 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $309.81, for a total transaction of $2,258,205.09. Following the sale, the insider owned 33,458 shares of the company’s stock, valued at approximately $10,365,622.98. This trade represents a 17.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 158,778 shares of company stock valued at $56,196,944. 2.70% of the stock is currently owned by insiders.

Hilton Worldwide Price Performance

Shares of HLT opened at $373.23 on Tuesday. The business has a 50-day moving average of $330.05 and a 200-day moving average of $322.91. The company has a market capitalization of $83.05 billion, a price-to-earnings ratio of 50.44, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08. Hilton Worldwide Holdings Inc. has a 1 year low of $263.95 and a 1 year high of $381.34.

Hilton Worldwide (NYSE:HLT) last announced its earnings results on Tuesday, October 27th. The company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.37 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Hilton Worldwide had a negative return on equity of 33.78% and a net margin of 13.40%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.11 earnings per share. As a group, sell-side analysts anticipate that Hilton Worldwide Holdings Inc. will post 9.17 EPS for the current year.

Hilton Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Tuesday, December 1st will be given a $0.15 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.2%. Hilton Worldwide’s payout ratio is 8.11%.

Wall Street Analysts Forecast Growth

HLT has been the subject of a number of research reports. Wolfe Research assumed coverage on shares of Hilton Worldwide in a report on Wednesday, September 2nd. They issued a “peer perform” rating for the company. Truist Financial boosted their target price on shares of Hilton Worldwide from $312.00 to $316.00 and gave the stock a “hold” rating in a report on Thursday, September 10th. CICC Research started coverage on shares of Hilton Worldwide in a research report on Wednesday, August 12th. They issued an “outperform” rating for the company. Mizuho raised shares of Hilton Worldwide from a “neutral” rating to an “outperform” rating and raised their price target for the company from $329.00 to $421.00 in a research note on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hilton Worldwide from a “hold” rating to a “buy” rating and set a $365.00 price target for the company in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.08.

Hilton Worldwide Company Profile

Hilton Worldwide Holdings Inc is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio serves a range of travelers, from luxury and leisure guests to business travelers and extended-stay customers. Hilton also operates a vacation ownership business through Hilton Grand Vacations under a long-term brand and licensing relationship.

The company’s brands include Waldorf Astoria, Conrad, Hilton Hotels & Resorts, DoubleTree, Embassy Suites, Hilton Garden Inn, Hampton, Homewood Suites and Hilton Honors, its guest loyalty program.