Westpac Banking Corp Sells 2,880 Shares of Hyatt Hotels Corporation $H

Westpac Banking Corp cut its stake in Hyatt Hotels Corporation (NYSE:H) by 38.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,521 shares of the company’s stock after selling 2,880 shares during the period. Westpac Banking Corp’s holdings in Hyatt Hotels were worth $650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. raised its holdings in shares of Hyatt Hotels by 450.0% in the 3rd quarter. Johnson Financial Group Inc. now owns 176 shares of the company’s stock valued at $25,000 after purchasing an additional 144 shares during the period. Los Angeles Capital Management LLC bought a new position in Hyatt Hotels during the fourth quarter worth about $26,000. DV Equities LLC acquired a new position in Hyatt Hotels during the fourth quarter worth approximately $32,000. Ares Financial Consulting LLC bought a new stake in Hyatt Hotels in the fourth quarter valued at approximately $34,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Hyatt Hotels in the third quarter valued at approximately $34,000. 73.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hyatt Hotels

In related news, Director Susan D. Kronick sold 1,119 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $174.51, for a total transaction of $195,276.69. Following the transaction, the director directly owned 31,225 shares of the company’s stock, valued at approximately $5,449,074.75. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Udell sold 2,087 shares of Hyatt Hotels stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $188.00, for a total transaction of $392,356.00. Following the completion of the sale, the insider owned 16,638 shares of the company’s stock, valued at $3,127,944. This trade represents a 11.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,224 shares of company stock worth $4,173,605 over the last ninety days. Corporate insiders own 23.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on H. Truist Financial boosted their target price on Hyatt Hotels from $181.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Barclays raised their price target on Hyatt Hotels from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday. Susquehanna decreased their price objective on shares of Hyatt Hotels from $185.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Wall Street Zen raised shares of Hyatt Hotels from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Stifel Nicolaus set a $182.00 target price on shares of Hyatt Hotels in a research note on Friday, May 29th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.29.

Hyatt Hotels Price Performance

Shares of NYSE H opened at $187.36 on Thursday. The firm has a market cap of $17.64 billion, a P/E ratio of -535.32 and a beta of 1.32. The business’s 50 day moving average is $188.62 and its 200-day moving average is $169.81. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.03. Hyatt Hotels Corporation has a 1-year low of $133.51 and a 1-year high of $206.86.

Hyatt Hotels (NYSE:H) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Hyatt Hotels had a positive return on equity of 6.01% and a negative net margin of 0.48%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company posted $0.46 EPS. Equities research analysts predict that Hyatt Hotels Corporation will post 3.58 earnings per share for the current year.

Hyatt Hotels Profile

Hyatt Hotels Corporation (NYSE: H) is a global hospitality company that develops, owns, manages and franchises luxury and business hotels, resorts and vacation properties. Its portfolio spans a range of price points and styles under brands such as Park Hyatt, Grand Hyatt, Andaz, Hyatt Regency, Hyatt Centric, Hyatt Place, Hyatt House, Thompson Hotels, Alila and Destination by Hyatt. In addition to accommodations, the company provides meeting and event spaces, food and beverage outlets, spa and wellness centers, and a variety of guest services designed to cater to both leisure and business travelers.

Hyatt’s business model combines property ownership, management contracts and third-party franchising.