Verition Fund Management LLC lowered its holdings in Choice Hotels International, Inc. (NYSE:CHH - Free Report) by 50.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,696 shares of the company's stock after selling 6,783 shares during the quarter. Verition Fund Management LLC's holdings in Choice Hotels International were worth $872,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Choice Hotels International by 77.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,105,796 shares of the company's stock worth $488,590,000 after buying an additional 1,788,563 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Choice Hotels International by 0.9% in the 2nd quarter. Boston Trust Walden Corp now owns 941,560 shares of the company's stock worth $112,046,000 after acquiring an additional 8,033 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Choice Hotels International by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 675,142 shares of the company's stock valued at $80,340,000 after purchasing an additional 26,289 shares in the last quarter. Raymond James & Associates boosted its holdings in Choice Hotels International by 45.4% during the third quarter. Raymond James & Associates now owns 364,983 shares of the company's stock worth $47,557,000 after purchasing an additional 113,951 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Choice Hotels International by 51.5% during the second quarter. Envestnet Asset Management Inc. now owns 266,950 shares of the company's stock worth $31,767,000 after purchasing an additional 90,765 shares during the last quarter. Institutional investors own 65.57% of the company's stock.
Insider Activity
In related news, SVP Simone Wu sold 7,840 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $130.08, for a total value of $1,019,827.20. Following the sale, the senior vice president now directly owns 45,669 shares of the company's stock, valued at $5,940,623.52. This trade represents a 14.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick Pacious sold 7,192 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $144.95, for a total transaction of $1,042,480.40. Following the completion of the transaction, the chief executive officer now directly owns 404,666 shares of the company's stock, valued at approximately $58,656,336.70. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,412 shares of company stock worth $8,582,271. 24.02% of the stock is owned by company insiders.
Choice Hotels International Stock Performance
CHH traded up $0.72 on Tuesday, hitting $144.14. The company's stock had a trading volume of 218,925 shares, compared to its average volume of 464,644. Choice Hotels International, Inc. has a 12 month low of $108.91 and a 12 month high of $153.81. The firm has a market cap of $6.76 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.23. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 177.75. The company's 50 day simple moving average is $141.59 and its 200-day simple moving average is $129.29.
Choice Hotels International (NYSE:CHH - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.31. Choice Hotels International had a negative return on equity of 659.01% and a net margin of 16.27%. The firm had revenue of $428.00 million during the quarter, compared to analyst estimates of $432.62 million. During the same period last year, the company earned $1.82 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that Choice Hotels International, Inc. will post 6.84 EPS for the current year.
Choice Hotels International Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Tuesday, October 1st were issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Tuesday, October 1st. Choice Hotels International's payout ratio is 22.03%.
Analyst Ratings Changes
Several equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Choice Hotels International from $118.00 to $138.00 and gave the stock a "sell" rating in a research report on Tuesday. Truist Financial lifted their price target on Choice Hotels International from $134.00 to $136.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Jefferies Financial Group lowered Choice Hotels International from a "buy" rating to a "hold" rating and set a $150.00 target price for the company. in a research report on Wednesday, November 6th. Robert W. Baird boosted their price target on shares of Choice Hotels International from $138.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Finally, Barclays lifted their price objective on shares of Choice Hotels International from $112.00 to $123.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Choice Hotels International presently has a consensus rating of "Hold" and an average price target of $132.27.
Get Our Latest Report on Choice Hotels International
Choice Hotels International Profile
(
Free Report)
Choice Hotels International, Inc, together with its subsidiaries, operates as a hotel franchisor in the United States and internationally. It operates through Hotel Franchising & Management and Corporate & Other segments. The company franchises lodging properties under the brand names of Comfort Inn, Comfort Suites, Quality, Clarion, Clarion Pointe, Sleep Inn, Ascend Hotel Collection, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Studios, WoodSpring Suites, Everhome Suites, Cambria Hotels, Radisson Blu, Radisson RED, Radisson, Park Plaza, Country Inn & Suites by Radisson, Radisson Inn & Suites, Park Inn by Radisson, Radisson Individuals, and Radisson Collection.
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