Bill Ackman's firm, Pershing Square Capital Management, praised Hilton stock.
Bryan Bedder/Getty Images for The New York TimesHedge fund manager Bill Ackman’s firm is singing the praises of Hilton Worldwide Holdings, the global lodging firm that Barron’s took a positive view on in February.
The company’s stock has returned about 11% this year as of Monday’s close, versus 12% for the S&P 500.
“Overall, we remain very excited about the company’s prospects, and we think that while Hilton has done well from a stock price perspective during Covid, there’s a lot of upside left,” a Pershing analyst said during Pershing Square Capital Management’s first-quarter investor call Tuesday morning.
Pershing holds the stock. Shares of Hilton Worldwide Holdings (ticker: HLT) were at about $124.30 early Tuesday afternoon, up about 0.6% on the day’s trading.
Hilton, based in McLean, Va., operates with an asset-light model in which it actually owns very few of the hotels in its network. Most of those are franchised or managed by Hilton, providing steady fees.
That was one of the company’s attributes Barron’s cited in a bullish story about the company in February. Through Monday’s close, the stock had gained about 11% since then, ahead of the broader market’s 8.5% return.
The Pershing analyst added that Hilton “has done a very good job of navigating during the pandemic.” That includes cutting costs and using technology to enhance offerings such as mobile check-in.
Speaking more broadly, Ackman said Pershing looks to invest in durable companies with pricing power. The firm also highlighted home improvement retailer Lowe’s (LOW) and real-estate development firm Howard Hughes (HHC) as among its bullish bets.
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Bill Ackman's Pershing Square Praises Hilton Worldwide Stock. Here's Why. - Barron's
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