Bank of America Corp DE cut its stake in shares of Choice Hotels International, Inc. (NYSE:CHH) by 35.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,346 shares of the company’s stock after selling 100,636 shares during the period. Bank of America Corp DE’s holdings in Choice Hotels International were worth $11,478,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV purchased a new stake in Choice Hotels International during the first quarter valued at $120,000. Russell Investments Group Ltd. purchased a new stake in Choice Hotels International during the fourth quarter valued at $130,000. O Shaughnessy Asset Management LLC purchased a new stake in Choice Hotels International during the first quarter valued at $130,000. United Capital Financial Advisers LLC purchased a new stake in Choice Hotels International during the first quarter valued at $212,000. Finally, Parametrica Management Ltd purchased a new stake in Choice Hotels International during the first quarter valued at $222,000. Hedge funds and other institutional investors own 49.80% of the company’s stock.
Shares of Choice Hotels International, Inc. (NYSE:CHH) opened at 65.25 on Wednesday. Choice Hotels International, Inc. has a 52 week low of $43.70 and a 52 week high of $67.80. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 25.05 and a beta of 1.11. The stock’s 50 day moving average price is $65.00 and its 200-day moving average price is $61.69.
Choice Hotels International (NYSE:CHH) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $197.89 million for the quarter, compared to analyst estimates of $216.24 million. Choice Hotels International had a negative return on equity of 45.12% and a net margin of 16.05%. Choice Hotels International’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities analysts anticipate that Choice Hotels International, Inc. will post $2.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 3rd were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, June 29th. Choice Hotels International’s dividend payout ratio (DPR) is presently 33.20%.
Several analysts recently weighed in on CHH shares. Zacks Investment Research upgraded Choice Hotels International from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, March 28th. Morgan Stanley downgraded shares of Choice Hotels International from an “overweight” rating to an “equal weight” rating and set a $65.00 target price for the company. in a report on Friday, May 5th. They noted that the move was a valuation call. Finally, Telsey Advisory Group boosted their target price on shares of Choice Hotels International from $59.00 to $63.00 and gave the stock a “market perform” rating in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.00.
In other news, CEO Stephen P. Joyce sold 17,024 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $63.02, for a total transaction of $1,072,852.48. Following the sale, the chief executive officer now owns 176,943 shares of the company’s stock, valued at approximately $11,150,947.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen P. Joyce sold 44,116 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $62.88, for a total value of $2,774,014.08. Following the sale, the chief executive officer now directly owns 201,922 shares in the company, valued at approximately $12,696,855.36. The disclosure for this sale can be found here. 22.01% of the stock is currently owned by company insiders.
Choice Hotels International Company Profile
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
Want to see what other hedge funds are holding CHH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Choice Hotels International, Inc. (NYSE:CHH).
Receive News & Ratings for Choice Hotels International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Choice Hotels International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
