Bank of America Corp DE boosted its position in Hyatt Hotels Corporation (NYSE:H) by 53.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,648 shares of the company’s stock after buying an additional 33,540 shares during the period. Bank of America Corp DE owned about 0.08% of Hyatt Hotels Corporation worth $5,217,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc purchased a new position in Hyatt Hotels Corporation during the first quarter worth $5,668,000. Jennison Associates LLC raised its position in Hyatt Hotels Corporation by 2.8% in the first quarter. Jennison Associates LLC now owns 1,615,212 shares of the company’s stock worth $87,189,000 after buying an additional 44,231 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Hyatt Hotels Corporation by 5,806.4% in the first quarter. Canada Pension Plan Investment Board now owns 311,445 shares of the company’s stock worth $16,812,000 after buying an additional 306,172 shares in the last quarter. BTIM Corp. purchased a new position in Hyatt Hotels Corporation during the first quarter worth $2,170,000. Finally, Nationwide Fund Advisors purchased a new position in Hyatt Hotels Corporation during the first quarter worth $5,498,000. 31.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Hyatt Hotels Corporation (NYSE:H) opened at 55.43 on Monday. The company has a market cap of $6.96 billion, a PE ratio of 30.61 and a beta of 1.28. Hyatt Hotels Corporation has a 1-year low of $47.94 and a 1-year high of $59.30. The company has a 50-day moving average of $56.19 and a 200-day moving average of $55.26.
Hyatt Hotels Corporation (NYSE:H) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.49. Hyatt Hotels Corporation had a net margin of 5.30% and a return on equity of 7.25%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $0.25 EPS. Equities analysts forecast that Hyatt Hotels Corporation will post $1.44 EPS for the current year.
Hyatt Hotels Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 4th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
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A number of research firms have weighed in on H. FBR & Co reissued a “buy” rating on shares of Hyatt Hotels Corporation in a research report on Monday, May 15th. Stifel Nicolaus boosted their price objective on shares of Hyatt Hotels Corporation from $54.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, May 15th. Citigroup Inc. restated a “neutral” rating on shares of Hyatt Hotels Corporation in a report on Thursday, May 11th. Guggenheim assumed coverage on shares of Hyatt Hotels Corporation in a report on Wednesday, April 26th. They set a “neutral” rating on the stock. Finally, BidaskClub downgraded shares of Hyatt Hotels Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $55.73.
In other Hyatt Hotels Corporation news, insider H. Charles Floyd sold 15,000 shares of Hyatt Hotels Corporation stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $58.00, for a total value of $870,000.00. Following the completion of the sale, the insider now owns 64,263 shares in the company, valued at approximately $3,727,254. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gs Capital Partners Vi Fund, L sold 4,000,000 shares of Hyatt Hotels Corporation stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $57.53, for a total transaction of $230,120,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,057,240 shares of company stock valued at $233,452,411 in the last quarter. Corporate insiders own 25.50% of the company’s stock.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
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