Hilton Worldwide Holdings Stock (NYSE: HLT)

Hilton Worldwide Holdings (NYSE:HLT) Stock, Quote.Headers.trade-ideas

Hilton Worldwide Holdings

Hilton Worldwide Holdings operates 1.2 million rooms across its more than 20 brands serving the premium economy scale through luxury segments. Hampton and Hilton are the two largest brands, representing 28% and 19%, respectively, of the company's total rooms, as of Dec. 31, 2023. Recent brands launched over the last few years include Home2, Curio, Canopy, Spark, Tru, Tempo, and LivSmart, as well as a partnership with Small Luxury Hotels and acquisitions of Nomad and Graduate Hotels. Managed and franchised hotels represent the vast majority of adjusted EBITDA, predominantly from the Americas regions.

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More Than $24M Bet On This Energy Stock? Check Out These 3 Stocks Executives Are Buying

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Virco Manufacturing Corporation (NASDAQ: VIRC) reported mixed second-quarter fiscal 2024 (ended July 31, 2024) results, wherein earnings surpassed the Zacks Consensus Estimate but sales missed the same. Following the results, the company&#39;s shares lost 9.3% on Sept. 09.

Virco&#39;s Q2 Earnings Beat Estimates, Revenues Miss, Stock Falls

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Bill Ackman could be pivoting from a closed-end fund IPO to potentially launching a Pershing Square ETF, aiming for increased accessibility, liquidity, and cost efficiency for investors.

Bill Ackman Weighs Pivot To ETF After Abandoning Closed-End Fund IPO: Report

Hilton Worldwide Holdings Inc. Common Stock

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Goldman Sachs analyst Lizzie Dove initiates coverage on Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Buy rating and announces Price Target of $245.

Price Target

Initiation

Goldman Sachs Initiates Coverage On Hilton Worldwide Holdings with Buy Rating, Announces Price Target of $245

Although U.S. stocks closed higher on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Hilton Worldwide</h3>
<ul>
<li>The Trade: Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) Director Judith McHale <a href="https://www.benzinga.com/quote/ONEW/analyst-ratings">acquired a total of 4,750 shares at</a> an average price of $210.81. To acquire these shares, it cost around $1 million.</li>
<li>What's Happening: On Sept. 5, Hilton announced the pricing of senior notes offering.</li>
<li>What Hilton Worldwide Does: Hilton Worldwide Holdings operates 1.2 million rooms across its more than 20 brands serving the premium economy scale through luxury segments.</li>
</ul>
<h3 class="wp-block-heading">PBF Energy</h3>
<ul>
<li>The Trade: PBF Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBF#NYSE">PBF</a>) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 770,000 shares at an average price of $31.98. To acquire these shares, it cost around $24.6 million.</li>
<li>What's Happening: PBF Energy will release its earnings results for the third quarter 2024 on Thursday, Oct. 31.</li>
<li>What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.</li>
</ul>
<h3 class="wp-block-heading">Mercer International</h3>
<ul>
<li>The Trade: Mercer International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MERC#NASDAQ">MERC</a>) Director Janine North <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 2,000 shares</a> at an average price of $6.04. To acquire these shares, it cost around $12,080.</li>
<li>What's Happening: On Aug. 8, Mercer Intl posted upbeat quarterly sales.</li>
<li>What Mercer International Does: Mercer International Inc is a forest products company with two reportable operating segments in pulp and solid wood. </li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/top-stories/24/09/40813043/jim-cramer-not-the-time-to-own-oil-when-asked-about-exxon-mobil-says-ibm-is-performing-well">Jim Cramer: &#8216;Not The Time To Own Oil,&#8217; When Asked About Exxon Mobil; Says IBM Is &#8216;Performing Well&#8217;</a></li>
</ul>

Virco Manufacturing Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virc#NASDAQ">VIRC</a>) reported mixed second-quarter fiscal 2024 (ended July 31, 2024) results, wherein earnings surpassed the Zacks Consensus Estimate but sales missed the same. Following the results, the company&#39;s shares lost 9.3% on Sept. 09.
On a year-over-year basis, the top and the bottom lines increased. This was primarily driven by higher factory output and improved operating efficiencies. A large counter-seasonal disaster recovery order also contributed to the positive results. This order is now blending into the company&#39;s usual seasonal delivery pattern, which peaks during the second and third quarters when schools are closed.
Although order rates declined slightly with the progress of summer, Shipments plus Backlog remained higher compared to last year. The company is confident in its ability to adapt to these changes. Its strong financial position supports the ongoing investments in new manufacturing equipment and service expansions. VIRC is well-positioned to seize unexpected opportunities as the market adjusts to a new post-pandemic phase.
Going forward, the company aims to seek potential acquisition opportunities to expand and strengthen its current business capabilities. Also, along with driving its prospects, Virco expects to add shareholder value through quarterly dividends and share repurchases.
<h2>Delving Deeper</h2>
The company reported adjusted earnings of $1.04 per share, which surpassed the Zacks Consensus Estimate of $1.00 by 4%. In the last reported quarter, it reported adjusted earnings of 95 cents per share.
<div class="chart_embed">
<h3>Virco Manufacturing Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Virco Manufacturing Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/b9/1725964901.png" style="height:265px; width:577px" title="" />
Virco Manufacturing Corporation price-consensus-eps-surprise-chart | Virco Manufacturing Corporation Quote
Net sales of $108.4 million missed the consensus mark of $115.9 million by 6.5% but grew 1% from the prior-year quarter&#39;s level.
</div>
<h2>Operating Highlights</h2>
During the fiscal second quarter, Virco&#39;s gross profit increased 3.4% year over year to $50.2 million. The gross margin expanded 100 basis points (bps) to 46.3% from 45.3% a year ago.
Selling, general and administrative expenses, as a percentage of sales, increased 60 bps to 26.1% from 25.5% reported a year ago. The uptick in operating expenses stemmed from a modest increase in full-service orders and the associated installation costs.
The company reported an operating profit of $21.9 million compared with $21.2 million in the prior-year quarter.
<h2>Financials</h2>
At the end of the fiscal second-quarter, Virco had cash of $0.8 million, down from $5.3 million at fiscal 2023-end. As of July 31, long-term debt (less current portion) was $4 million, slightly down from $4.1 million at fiscal 2023-end.
At the end of second-quarter fiscal 2024, the company&#39;s inventory came in at $58.6 million, slightly up from $58.4 million in the year-ago period.
<h2>VIRC&#39;s Zacks Rank</h2>
Virco currently carries a Zacks Rank #3 (Hold).
<h2>Recent Consumer Discretionary Releases</h2>
PENN Entertainment, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/penn#NASDAQ">PENN</a>) reported a narrower-than-expected loss in second-quarter 2024. The company&#39;s bottom and top lines surpassed the Zacks Consensus Estimate but declined on a year-over-year basis. PENN&#39;s quarterly results were hampered by disappointing performances of its South and Interactive segments.
However, top-of-funnel growth improvement, better risk management and enhanced promotional strategies led to stronger-than-expected revenues and adjusted EBITDA in the Interactive segment. PENN continues to focus on database growth and customer engagement through the use of latest technology, ongoing investments in gaming and non-gaming areas and partnerships in food and beverage.
Choice Hotels International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chh#NYSE">CHH</a>) delivered drab second-quarter 2024 results, with adjusted earnings and revenues missing the Zacks Consensus Estimate. Nevertheless, both metrics increased on a year-over-year basis.
The results were backed by strong demand trends across the company&#39;s diversified portfolio of brands. This uptrend in demand aided in accelerating global hotel openings, expanding international market reach and increasing the size of its reward program. CHH&#39;s versatile business model and accretive growth strategies ensure the support required to foster its growth trends.
Hilton Worldwide Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hlt#NYSE">HLT</a>) reported mixed second-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same. Both metrics increased year over year.
The company&#39;s performance was backed by notable improvements in revenue per available room, attributed to higher occupancy rates and average daily rates. As of June 30, 2024, Hilton&#39;s development pipeline comprised nearly 3,370 hotels, with almost 508,300 rooms across 136 countries and territories. For 2024, HLT expects net unit growth to be in the range of 7-7.5%.
<a href="https://www.zacks.com/stock/news/2334038/virco-s-q2-earnings-beat-estimates-revenues-miss-stock-falls?cid=CS-BENZ-FT-analyst_blog|earnings_article-2334038">To read this article on Zacks.com click here.</a>

Virco's Q2 Earnings Beat Estimates, Revenues Miss, Stock Falls

Offerings

Hilton's Indirect Subsidiary Intends To Offer $1B Of The Issuer's Senior Notes Due 2033

Bill Ackman, <a href="https://www.benzinga.com/topic/bill-ackman">the visionary leader </a>of Pershing Square Capital Management, is making headlines in the financial world with a potential strategic shift from a U.S. closed-end fund IPO to the potential launch of <a href="https://www.benzinga.com/topic/pershing-square">a Pershing Square</a> Exchange-Traded Fund (ETF).
The development was <a href="https://www.msn.com/en-gb/money/other/ackman-may-launch-pershing-square-etf/vi-AA1psU4Q?ocid=socialshare">reported</a> by Bloomberg&#8217;s Eric Balchunas and Katie Greifeld, who detailed Ackman&#8217;s potential shift from a closed-end fund IPO to launching a Pershing Square ETF.
This move comes on the heels of his decision to <a href="https://www.benzinga.com/news/24/07/40082441/bill-ackman-hits-pause-on-pershing-square-ipo-after-investors-hesitate">pull the planned IPO</a>, a shift that could redefine how investors access his high-profile investment strategies.
<h2 class="wp-block-heading">From Closed-End Fund To ETF: What's Behind The Shift?</h2>
Ackman had initially set the stage for a closed-end fund, a traditional investment vehicle known for its potential to trade at significant premiums or discounts to its net asset value (NAV). 
However, considering the current volatility in the IPO market and shifting investor preferences, Ackman is reportedly exploring a more flexible and accessible ETF structure.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/08/40147389/bill-ackmans-pershing-square-sinks-4-7-in-july-dashing-2024-gains">Bill Ackman&#8217;s Pershing Square Sinks 4.7% In July, Dashing 2024 Gains</a>
<h2 class="wp-block-heading">Why An ETF Might Be The Game-Changer</h2>
<ol>
<li>Increased Accessibility and Liquidity: Unlike closed-end funds, ETFs are traded throughout the day like stocks and typically trade close to their NAV due to an in-built arbitrage mechanism. This could attract a broader range of investors, from retail to institutional, enhancing liquidity and transparency.</li>
<li>Cost and Tax Efficiency: ETFs generally boast lower fees and greater tax efficiency compared to closed-end funds. This could be a significant draw for investors looking to benefit from Ackman's investment prowess without the higher costs associated with traditional closed-end funds.</li>
<li>Modern Investment Trends: The ETF market has surged in recent years, driven by demand for liquid, cost-effective, and transparent investment options. Ackman's potential ETF could tap into this trend, aligning Pershing Square with the preferences of today's investors.</li>
</ol>
<h2 class="wp-block-heading">Implications For Investors</h2>
For investors, the prospect of a Pershing Square ETF presents an exciting opportunity to gain exposure to Ackman's concentrated investment strategies.
As of the second quarter this year, Ackman&#8217;s Pershing Square Capital hedge fund was focused on 10 holdings, <a href="https://whalewisdom.com/filer/pershing-square-capital-management-l-p">including</a>:
<ul>
<li>Hilton Worldwide Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) &#8211; 18.50%</li>
<li>Chipotle Mexican Grill, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) &#8211; 20.10%</li>
<li>Restaurant Brands International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>) &#8211; 16.65%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) &#8211; 13.11%</li>
<li>Canadian Pacific Railway Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) &#8211; 11.16%</li>
<li>Howard Hughes Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>) &#8211; 11.13%</li>
<li>Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) &#8211; 6.88%</li>
<li>Brookfield Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>) &#8211; 2.70%</li>
<li>Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) &#8211; 2.17%</li>
<li>Seaport Entertainment Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEG#NYSE">SEG</a>) &#8211; 0.62%</li>
</ul>
An ETF could surely offer diversification, tax advantages, and access to a high-profile manager's stock picks. However, potential investors should weigh these benefits against the inherent risks of actively managed funds.
As the ETF market continues to grow, Ackman's potential shift to this vehicle could position Pershing Square at the forefront of modern investing trends.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40576919/goldman-sachs-lowers-oil-price-forecasts-says-us-supply-beating-expectations-downpl">Goldman Sachs Lowers Oil Price Forecasts, Says US Supply &#8216;Beating Expectations,&#8217; Downplays Libya Output Disruptions</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Billionaire hedge fund manager Bill Ackman strategically reduced his stake in Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) just before the restaurant <a href="https://www.benzinga.com/news/24/08/40347476/ceo-switch-wipes-7b-off-chipotles-market-cap-adds-15b-to-starbucks">chain's recent stock selloff and CEO departure. </a>
Ackman&#8217;s move comes at a critical juncture, suggesting his knowledge of Chipotle&#8217;s business dynamics gave him an edge over the broader market. 
What Happened: The restaurant chain, known for its burritos, is witnessing the worst quarter in more than four years.
Since July 1, Chipotle's share price has declined by 17%, setting it on course for its worst quarter since the first quarter of 2020, when it fell 22%.
Despite Chipotle reporting stronger-than-expected revenue and earnings last quarter, the market's reaction to the results was negative, with the stock falling 1.9% on the day after as the company's management chose to hold steady its annual guidance and signaled potential near-term pressures on margins.
On Aug. 13, the <a href="https://www.benzinga.com/markets/equities/24/08/40338228/starbucks-appoints-chipotle-mexican-grill-veteran-as-new-ceo-stock-soars">restaurant chain took a significant hit,</a> plunging 7.5% — its worst single-day drop in over a year —following the announcement that Brian Niccol, the CEO credited with much of Chipotle's recent success, would be leaving to take the helm at Starbucks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>).
Chipotle's Chief Operating Officer Scott Boatwright was named Interim CEO.
Ackman Adjusts: According to the latest 13F filings, Ackman's Pershing Square Capital Management, L.P. sold 8.38 million shares of Chipotle during the second quarter of 2024. That&#8217;s a 23% reduction in his overall position compared to the end of the first quarter.
The shares were sold at an average price of $60.40, locking in substantial gains <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40167312/us-stocks-trim-black-mondays-drops-as-services-gauge-expands-bond-gains-stall-as-traders-r">before the market downturn</a>. Chipotle shares delivered a robust year-to-date performance of 37% through the end of June. It marked seven consecutive months of gains until April.
Ackman first invested in Chipotle back in 2016. He acquired a $234.8 million stake that represented 4.3% of his overall portfolio at the time. Since then, he steadily increased his position. This culminated in a $2.1 billion stake at the end of the first quarter 2024. Chipotle remained his largest holding until it was overtaken by Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>). 
Chipotle&#8217;s weight in Pershing Square&#8217;s portfolio decreased from 20.1% to 17.33% between the first two quarters of 2024.
The timing of this adjustment proved to be impeccable, as the restaurant chain's stock has since experienced a notable decline
Still, the average purchase price of all Chipotle shares owned by Pershing Square is $8.72. When compared to the current market price of $52, the return on investment has been nearly 500%. 
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<li><a href="https://www.benzinga.com/markets/asia/24/08/40386342/big-short-fame-michael-burry-bets-big-on-china-reveals-alibaba-as-top-holding-jd-com-and-baidu-also">Big Short&#8217;s Michael Burry Reveals Alibaba As Top Holding — JD.com And Baidu Also Feature On Scion&#8217;s Portfolio</a></li>
</ul>

Equities

Restaurants

SBUX

Bill Ackman Cuts Chipotle Stake Right Before Stock Drop: Did Billionaire See What The Market Couldn't?

Pershing Square Q2 2024 13F Shows 3,773% Increase In Chipotle Stake; Reduces Holdings In Alphabet, Hilton, And Restaurant Brands; Adds New Positions In Brookfield Corp With 6.85M Shares And Nike With 3.04M Shares

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/09/24</td>
<td>$200.00</td>
<td>$30.4K</td>
<td>20.0K</td>
<td>149.2K</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$75.00</td>
<td>$47.6K</td>
<td>14.8K</td>
<td>2.4K</td>
</tr>
<tr>
<td>RCL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/09/24</td>
<td>$150.00</td>
<td>$38.2K</td>
<td>3.2K</td>
<td>2.2K</td>
</tr>
<tr>
<td>SG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$26.00</td>
<td>$75.0K</td>
<td>1.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>GM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$50.00</td>
<td>$53.0K</td>
<td>665</td>
<td>124</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$185.00</td>
<td>$28.0K</td>
<td>3.4K</td>
<td>102</td>
</tr>
<tr>
<td>AAP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$75.00</td>
<td>$37.4K</td>
<td>351</td>
<td>23</td>
</tr>
<tr>
<td>CAVA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$110.00</td>
<td>$25.6K</td>
<td>26</td>
<td>20</td>
</tr>
<tr>
<td>HLT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$180.00</td>
<td>$52.2K</td>
<td>0</td>
<td>18</td>
</tr>
<tr>
<td>BKNG</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$3700.00</td>
<td>$58.8K</td>
<td>26</td>
<td>2</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 304 contract(s) at a $200.00 strike. This particular call needed to be split into 39 different trades to become filled. The total cost received by the writing party (or parties) was $30.4K, with a price of $100.0 per contract. There were 20071 open contracts at this strike prior to today, and today 149262 contract(s) were bought and sold. 
• For NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we notice a call option sweep that happens to be bullish, expiring in 42 day(s) on September 20, 2024. This event was a transfer of 200 contract(s) at a $75.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $47.6K, with a price of $238.0 per contract. There were 14813 open contracts at this strike prior to today, and today 2475 contract(s) were bought and sold. 
• For RCL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), we notice a call option trade that happens to be bearish, is expiring today. Parties traded 49 contract(s) at a $150.00 strike. The total cost received by the writing party (or parties) was $38.2K, with a price of $780.0 per contract. There were 3291 open contracts at this strike prior to today, and today 2296 contract(s) were bought and sold. 
• Regarding SG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SG#NYSE">SG</a>), we observe a call option trade with bearish sentiment. It expires in 7 day(s) on August 16, 2024. Parties traded 100 contract(s) at a $26.00 strike. The total cost received by the writing party (or parties) was $75.0K, with a price of $750.0 per contract. There were 1329 open contracts at this strike prior to today, and today 1099 contract(s) were bought and sold. 
• Regarding GM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), we observe a put option sweep with bearish sentiment. It expires in 525 day(s) on January 16, 2026. Parties traded 58 contract(s) at a $50.00 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $53.0K, with a price of $915.0 per contract. There were 665 open contracts at this strike prior to today, and today 124 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option trade that happens to be neutral, expiring in 133 day(s) on December 20, 2024. This event was a transfer of 37 contract(s) at a $185.00 strike. The total cost received by the writing party (or parties) was $28.0K, with a price of $758.0 per contract. There were 3477 open contracts at this strike prior to today, and today 102 contract(s) were bought and sold. 
• Regarding AAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>), we observe a put option trade with bullish sentiment. It expires in 161 day(s) on January 17, 2025. Parties traded 21 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $37.4K, with a price of $1785.0 per contract. There were 351 open contracts at this strike prior to today, and today 23 contract(s) were bought and sold. 
• For CAVA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>), we notice a put option sweep that happens to be bearish, expiring in 161 day(s) on January 17, 2025. This event was a transfer of 10 contract(s) at a $110.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.6K, with a price of $2560.0 per contract. There were 26 open contracts at this strike prior to today, and today 20 contract(s) were bought and sold. 
• For HLT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), we notice a call option trade that happens to be bearish, expiring in 42 day(s) on September 20, 2024. This event was a transfer of 18 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $52.2K, with a price of $2900.0 per contract. There were 0 open contracts at this strike prior to today, and today 18 contract(s) were bought and sold. 
• For BKNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), we notice a put option trade that happens to be neutral, expiring in 70 day(s) on October 18, 2024. This event was a transfer of 2 contract(s) at a $3700.00 strike. The total cost received by the writing party (or parties) was $58.8K, with a price of $29400.0 per contract. There were 26 open contracts at this strike prior to today, and today 2 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AMZN

BKNG

CAVA

TSLA

10 Consumer Discretionary Stocks Whale Activity In Today's Session

Barclays analyst Brandt Montour maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Overweight and lowers the price target from $228 to $224.

Barclays Maintains Overweight on Hilton Worldwide Holdings, Lowers Price Target to $224

Deutsche Bank analyst Carlo Santarelli maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Hold and lowers the price target from $185 to $181.

Deutsche Bank Maintains Hold on Hilton Worldwide Holdings, Lowers Price Target to $181

Truist Securities analyst Patrick Scholes maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Hold and lowers the price target from $209 to $208.

Truist Securities Maintains Hold on Hilton Worldwide Holdings, Lowers Price Target to $208

Baird analyst Michael Bellisario maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Outperform and lowers the price target from $216 to $215.

Baird Maintains Outperform on Hilton Worldwide Holdings, Lowers Price Target to $215

Macquarie analyst Chad Beynon maintains Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) with a Neutral and raises the price target from $205 to $208.

Macquarie Maintains Neutral on Hilton Worldwide Holdings, Raises Price Target to $208

The U.S. stock market is poised for its second consecutive day of gains, aiming to reverse the sell-off that occurred through Monday as investors assess the ongoing earnings season and welcome reassuring comments<a href="https://www.benzinga.com/markets/asia/24/08/40223986/traders-resume-yen-dollar-carry-trade-as-bank-of-japan-pledges-no-rate-hikes-during-market-volatilit"> from the Bank of Japan.</a>
Deputy Gov. Shinichi Uchida stated the central bank will avoid raising interest rates during times of market volatility, easing fears sparked last week by a rate hike from the Bank of Japan coupled with growing concerns about a potential U.S. recession.
The U.S. dollar surged 2% against the Japanese yen, marking its largest one-day increase since June 2022 and reigniting trader interest in the yen-dollar carry trade strategy.
Both the S&amp;P 500 and the Nasdaq 100 were 1% by midday trading in New York. The Dow Jones and the Russell 2000 notched smaller gains, up 0.7% and 0.5%, respectively. 
Treasury yields rose again by about 5 basis points across the curve, sending bond-related assets down. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.4% after tumbling 2.2% on Tuesday.
Oil shined among commodities, with the West Texas Intermediate (WTI) light crude soaring 3.6% to $75 a barrel, after the Energy Information Administration report showed a larger-than-expected drawdown in U.S. crude oil inventories last week. Natural gas prices were also up by over 4% amid forecasts of warmer weather leading speculators to expect higher electricity consumption for cooling. As a result, energy stocks rallied.
Gold inched 0.2% higher, while silver slightly eased by 0.1%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was flat for the day. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,276.87</td>
<td>1.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,296.84</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,279.71</td>
<td>0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,072.52</td>
<td>0.5%</td>
</tr>
</tbody>
</table>
</figure>
<h1 class="wp-block-heading">According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:</h1>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was trading 2.2% higher to $528.42.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $392.87.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 1.2% to $444.83.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $205.57.</li>
<li>10 out of 11 sectors of the S&amp;P 500 saw gains, with the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) leading the way, up by 2%. The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) was the only one in the red, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Enphase Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rallied over 6%, after BNP Paribas upgraded the stock to Outperform with $144 price target.</li>
</ul>
Stocks reacting to company earnings included:
<ul>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), down 4.3%. </li>
<li>Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) down over 12%, </li>
<li>Axon Enterprises Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) up over 18%, </li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) down 0.4%,</li>
<li>Emerson Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) down 5.6%, </li>
<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) up over 25%, </li>
<li>Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) up 8.9%, </li>
<li>Hilton Worlwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) down 1.7%, </li>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) down over 6%, </li>
<li>Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) down over 5%, </li>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) down 3.6%, </li>
<li>Shopify Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NASDAQ">SHOP</a>) up 23%, </li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) down 16.04%</li>
<li>Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), down 2.61%,</li>
<li>Wynn Resort Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) down 0.22%.</li>
</ul>
Companies reporting after the close are AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>), Fastly Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>), Forward Air Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>), HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), Monster Beverage Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>), Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>).
Read Now:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40220673/mortgage-rates-fall-to-15-month-lows-boost-homebuyer-demand-as-federal-reserve-hints-at-rate-cut">Mortgage Rates Fall To 15-Month Lows, Boost Homebuyer Demand As Federal Reserve Hints At Rate Cuts</a></li>
</ul>
The image was made using artificial intelligence MidJourney.

Sector ETFs

Bonds

Eurozone

Commodities

Forex

Treasuries

Global

Econ #s

Federal Reserve

Tech

$BTC

ABNB

AMGN

AXON

BLNK

BMBL

BYND

SPDR Dow Jones Industrial Average ETF Trust

ENPH

FSLY

FTNT

FWRD

HOOD

HUBS

ILMN

KLIC

MNST

NVDA

RDDT

RIVN

SHOP

SMCI

iShares Trust Barclays 20+ Year Treasury Bond Fund

WYNN

Wall Street Poised For Second Day Of Gains While Bank Of Japan Makes Reassurances; Dollar Strengthens Against Yen, Crude Prices Surge: What's Driving Markets Wednesday?

Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday.</a>
The company reported second-quarter adjusted earnings per share of $1.91, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the analyst consensus of $1.86</a>. Quarterly revenues of $2.951 billion outpaced the street view of $2.932 billion.
In the second quarter of 2024, Hilton Worldwide reported a 3.5% increase in system-wide comparable RevPAR on a currency-neutral basis compared to the same period in 2023.
The company said it approved 62,700 new rooms for development, expanding its pipeline to 508,300 rooms as of June 30, a 15% growth from the previous year.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40217156/us-stocks-set-to-extend-gains-despite-mixed-earnings-vix-dips-back-toward-pre-sell-off-levels-analy" rel="noreferrer noopener">US Stocks Set To Extend Gains Despite Mixed Earnings, VIX Dips Back Toward Pre-Sell-Off Levels: Analyst Says Pullback Is A &#8216;Growth Scare&#8217; And Not &#8216;Calamity&#8217;</a>
Hilton added 22,400 rooms to its system, resulting in 18,000 net additional rooms for the quarter and a 6.2% net unit growth year over year.
Additionally, Hilton completed the acquisition of the Graduate Hotels brand in May, enhancing its lifestyle portfolio.
For the three months ended June 30, Hilton reported net income of $422 million and Adjusted EBITDA of $917 million, compared to $413 million and $811 million, respectively, for the same period in 2023.
The company exited the quarter with $10.3 billion of debt outstanding. Total cash and cash equivalents were $802 million, including $71 million of restricted cash and equivalents.
Outlook: Hilton forecasts FY24 adjusted EPS between $6.93 and $7.03 (<a target="_blank" href="https://www.benzinga.com//node/38398245" rel="noreferrer noopener">prior view</a>: $6.89 and $7.03), below the $7.11 estimate, and third quarter adjusted EPS between $1.80 and $1.85, <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the $1.90 estimate.</a>
Price Action: HLT shares are trading lower by 0.77% to $205.53 at last check Wednesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40212775/move-over-yen-yuan-carry-trades-could-be-next-ticking-bomb-warns-strategists-but-it" target="_blank" rel="noreferrer noopener">Move Over Yen, Yuan Carry Trades Could Be Next Ticking Bomb, Warns Strategists: &#8216;But It&#8217;s Below The Danger Levels We Monitor&#8217;</a></li>
</ul>

Guidance

Movers

General

Hilton Stock Slides After Q2 Results On Soft Guidance - Details Here

Investors with a lot of money to spend have taken a bullish stance on Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with HLT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Hilton Worldwide Holdings.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 0%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $552,410, and there was 1 call, for a total amount of $39,900.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $180.0 to $210.0 for Hilton Worldwide Holdings over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Hilton Worldwide Holdings's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Hilton Worldwide Holdings's whale trades within a strike price range from $180.0 to $210.0 in the last 30 days. 
<h3>Hilton Worldwide Holdings Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723047359_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HLT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$2.6</td>
<td>$2.3</td>
<td>$2.34</td>
<td>$180.00</td>
<td>$222.8K</td>
<td style="text-align: right;">78</td>
<td>959</td>
</tr>
<tr>
<td>HLT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$2.35</td>
<td>$2.25</td>
<td>$2.28</td>
<td>$180.00</td>
<td>$80.6K</td>
<td style="text-align: right;">78</td>
<td>1.3K</td>
</tr>
<tr>
<td>HLT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$3.7</td>
<td>$2.15</td>
<td>$2.25</td>
<td>$180.00</td>
<td>$56.1K</td>
<td style="text-align: right;">78</td>
<td>2.0K</td>
</tr>
<tr>
<td>HLT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$2.1</td>
<td>$2.05</td>
<td>$2.06</td>
<td>$180.00</td>
<td>$43.8K</td>
<td style="text-align: right;">78</td>
<td>2.7K</td>
</tr>
<tr>
<td>HLT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$21.0</td>
<td>$18.9</td>
<td>$19.95</td>
<td>$210.00</td>
<td>$39.9K</td>
<td style="text-align: right;">124</td>
<td>0</td>
</tr>
</tbody>
</table>

<h3>About Hilton Worldwide Holdings</h3>
Hilton Worldwide Holdings operates nearly 1.2 million rooms across its more than 20 brands serving the premium economy scale through luxury segments. Hampton and Hilton are the two largest brands, representing 28% and 19%, respectively, of the company's total rooms, as of Dec. 31, 2023. Recent brands launched over the last few years include Home2, Curio, Canopy, Spark, Tru, Tempo, and LivSmart, as well as a partnership with Small Luxury Hotels and acquisitions of Nomad and Graduate Hotels. Managed and franchised hotels represent the vast majority of adjusted EBITDA, predominantly from the Americas regions.
In light of the recent options history for Hilton Worldwide Holdings, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Hilton Worldwide Holdings Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,255,842, the price of HLT is down by -1.69%, reaching $203.61.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 0 days from now.</li>
</ul>
<h3>What The Experts Say On Hilton Worldwide Holdings</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $224.66666666666666.
<ul>
<li>An analyst from Barclays persists with their Overweight rating on Hilton Worldwide Holdings, maintaining a target price of $228. </li>
<li>An analyst from JP Morgan has decided to maintain their Neutral rating on Hilton Worldwide Holdings, which currently sits at a price target of $216. </li>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Hilton Worldwide Holdings, targeting a price of $230. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Hilton Worldwide Holdings, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Spotlight on Hilton Worldwide Holdings: Analyzing the Surge in Options Activity

WIIM

Hilton shares are trading lower following soft guidance.

Hilton Sees FY24 Adj. EPS $6.93-$7.03 vs $7.11 Est., Sees Q3 Adj. EPS $1.80-$1.85 vs $1.90 Est.

Hilton Worldwide Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) reported quarterly earnings of $1.91 per share which beat the analyst consensus estimate of $1.86 by 2.69 percent. The company reported quarterly sales of $2.951 which missed the analyst consensus estimate of $2.932 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $2.660 billion the same period last year.

Earnings Misses

Hilton Worldwide Holdings Q2 2024 Adj. EPS $1.91 Beats $1.86 Estimate, Sales $2.951B vs $2.932B Estimate

In 2022, Netflix Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) stock traded down more than 65% amid growth concerns and an overall sell-off in the tech industry. 
During that dip, billionaire investor <a href="https://www.benzinga.com/news/22/04/26729702/bill-ackman-exits-netflix-stock-after-400m-loss">Bill Ackman purchased more than $1 billion worth of shares </a>through his hedge fund Pershing Square Capital while the stock was around $400 a share, disclosing the position in January, 2022. 
House Of Cards: But, after a lackluster earnings report and uncertainty regarding the streaming company's ad-based subscription strategy, Netflix's stock continued to move lower and Ackman <a href="https://www.benzinga.com/top-stories/23/09/34988422/pershing-capitals-bill-ackman-whiffed-on-netflix-bets-big-on-googles-ai-potential">exited the position when shares were trading around $225 a share in April 2022. </a>
In total, Ackman held around 3.1 million shares of Netflix for about 3 months, losing around 40% on the trade. See Also: <a href="https://www.benzinga.com/news/24/07/39997035/bill-ackmans-warren-buffett-inspired-strategy-hits-a-snag-pershing-square-usa-delays-ipo-indefinitel">Bill Ackman&#8217;s Warren Buffett-Inspired Strategy Hits A Snag? Pershing Square USA Delays IPO Indefinitely After Slashing Target By 90%</a> For a couple of months, the sale looked like a smart way to cut losses early. Netflix's stock continued moving lower in May and June, getting as low as $175 a share. But then the Invesco QQQ Trust Series 1 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) and the overall tech industry rebounded rapidly, and Netflix followed suit. Netflix's stock surpassed Ackman's original cost basis in June 2023, about 18 months after he initially bought the shares. Then, the stock kept moving higher and eventually reclaimed its all-time high of around $700 a share earlier this summer. 
If we are conservative with estimates, and assume that Ackman bought the shares at their high of $409.15 during the period we know he added the shares, his Neftlix position would be up more than 53% based on its current price of around $627 a share. 
Today, 3.1 million shares of Netflix would be worth nearly $2 billion. 
All in all, Ackman and Pershing took a loss of around $400 million on the trade but could have had unrealized gains of nearly $1 billion had the hedge fund held through the downturn and volatility.&nbsp;
The trade weighed on Pershing's returns that year, with 2022 being the only year the fund delivered a negative return, finishing the year down 8.8%, according to its website. But, Ackman and his fund bounced back in 2023, finishing the year up more than 20%, and is on pace for another positive return of more than 20% in 2024. According to 13F filings, some of Ackman's biggest positions are currently Chipotle Mexican Grill (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NASDAQ">CMG</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Hilton Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>). Read Also: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/23/09/34988422/pershing-capitals-bill-ackman-whiffed-on-netflix-bets-big-on-googles-ai-potential">Pershing Capital&#8217;s Bill Ackman Whiffed On Netflix, Bets Big On Google&#8217;s AI Potential</a></li>
</ul>
Image: Harvard Association for Law and Business/ Tracy Tolf

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