Hilton's 0.72% Decline Matches 150th-Ranked $740M Volume in U.S. Equities

Hilton Worldwide (HLT) closed on Sept. 25, 2025, with a 0.72% decline to $... per share, trading on $740 million in volume that ranked 150th among U.S. equities. The stock’s moderate decline came amid mixed signals from its operational performance and sector positioning in the hospitality industry.

Recent developments highlighted potential challenges for the luxury hotel operator. A strategic review of its portfolio management practices raised questions about cost optimization amid rising labor and supply chain expenses. Analysts noted that the company’s reliance on high-end markets could leave it vulnerable to shifting consumer spending patterns, particularly in markets with lower business travel demand. Additionally, a lack of new brand launches in 2025 contrasted with competitors’ aggressive expansion strategies, which may affect long-term growth visibility.

Market participants observed a muted investor response to Hilton’s recent earnings report, which showed steady revenue growth but fell short of expectations for margin expansion. The stock’s volume spike suggested increased short-term positioning, though no material insider transactions or regulatory filings were reported to directly influence the move. Sector-wide trends in hospitality stocks remained fragmented, with some peers benefiting from pent-up demand in leisure travel while others faced occupancy pressures.

To run this back-test rigorously I need to pin down a few practical details that aren’t fully specified yet: 1. Universe • Should we look at all U.S. common stocks (NYSE + NASDAQ) or a different market/universe? • If your broker/universe list is narrower (e.g., S&P 1500 constituents, Russell 3000, etc.) please let me know. 2. Weighting & capital allocation • Equal-weight each of the 500 names (i.e., 0.2 % of capital per name)? • Or volume-weighted / market-cap-weighted? 3. Trading calendar & execution price • Enter at next day’s open and exit at the same day’s close (i.e., a one-day round-trip)? • Or enter and exit at closes? 4. Transaction costs & slippage • Should we assume zero costs, or apply a commission/slippage estimate? These details determine how we query and process the historical volume data (daily), generate the day-by-day 500-stock baskets, and then compute the performance metrics. Once I have your confirmation (or any adjustments), I’ll lay out the data-retrieval plan and run the back-test.