Principal Financial Group Inc. decreased its stake in shares of La Quinta Holdings Inc. (NYSE:LQ) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,500 shares of the company’s stock after selling 1,009 shares during the period. Principal Financial Group Inc.’s holdings in La Quinta Holdings were worth $142,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in LQ. Algert Global LLC acquired a new position in La Quinta Holdings during the first quarter valued at $735,000. Kempen Capital Management N.V. boosted its position in La Quinta Holdings by 9.2% in the first quarter. Kempen Capital Management N.V. now owns 112,104 shares of the company’s stock valued at $1,515,000 after buying an additional 9,412 shares during the period. Spark Investment Management LLC acquired a new position in La Quinta Holdings during the first quarter valued at $5,298,000. Bank of New York Mellon Corp boosted its position in La Quinta Holdings by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 405,802 shares of the company’s stock valued at $5,485,000 after buying an additional 23,456 shares during the period. Finally, Cipher Capital LP boosted its position in La Quinta Holdings by 52.2% in the first quarter. Cipher Capital LP now owns 192,626 shares of the company’s stock valued at $2,604,000 after buying an additional 66,053 shares during the period. 99.23% of the stock is currently owned by institutional investors.
La Quinta Holdings Inc. (NYSE:LQ) opened at 15.34 on Friday. La Quinta Holdings Inc. has a 1-year low of $9.73 and a 1-year high of $15.39. The firm’s 50-day moving average price is $14.73 and its 200 day moving average price is $14.12. The stock has a market cap of $1.80 billion, a PE ratio of 46.63 and a beta of 1.86.
La Quinta Holdings (NYSE:LQ) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $234.27 million for the quarter, compared to analyst estimates of $232.20 million. La Quinta Holdings had a return on equity of 8.04% and a net margin of 3.91%. Equities research analysts expect that La Quinta Holdings Inc. will post $0.39 EPS for the current year.
Several equities analysts have weighed in on LQ shares. Morgan Stanley raised La Quinta Holdings from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.50 to $16.00 in a research note on Thursday, June 15th. They noted that the move was a valuation call. Zacks Investment Research raised La Quinta Holdings from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, July 5th. Finally, BidaskClub cut La Quinta Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $13.21.
About La Quinta Holdings
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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