Conversant Capital LLC Takes $8.63 Million Position in Hyatt Hotels Corporation $H

Conversant Capital LLC bought a new position in shares of Hyatt Hotels Corporation (NYSE:H) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the company’s stock, valued at approximately $8,627,000. Hyatt Hotels makes up approximately 1.2% of Conversant Capital LLC’s investment portfolio, making the stock its 13th largest position.

Several other hedge funds have also recently modified their holdings of the stock. Veritas Asset Management LLP lifted its stake in Hyatt Hotels by 827.9% in the 4th quarter. Veritas Asset Management LLP now owns 1,900,417 shares of the company’s stock valued at $304,675,000 after buying an additional 1,695,616 shares in the last quarter. Wellington Management Group LLP increased its stake in Hyatt Hotels by 48.0% during the 4th quarter. Wellington Management Group LLP now owns 4,676,116 shares of the company’s stock worth $749,675,000 after buying an additional 1,516,554 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Hyatt Hotels by 84.5% during the second quarter. Bank of America Corp DE now owns 1,228,396 shares of the company’s stock valued at $171,545,000 after acquiring an additional 562,611 shares during the last quarter. Par Capital Management Inc. lifted its position in shares of Hyatt Hotels by 551.8% in the second quarter. Par Capital Management Inc. now owns 371,261 shares of the company’s stock valued at $51,847,000 after acquiring an additional 314,300 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Hyatt Hotels by 342.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 383,707 shares of the company’s stock valued at $61,517,000 after acquiring an additional 296,931 shares in the last quarter. Institutional investors and hedge funds own 73.54% of the company’s stock.

Hyatt Hotels Stock Up 1.8%

Shares of NYSE:H opened at $187.00 on Friday. Hyatt Hotels Corporation has a 52-week low of $133.51 and a 52-week high of $206.86. The stock has a market cap of $17.61 billion, a P/E ratio of -534.29 and a beta of 1.32. The business has a fifty day moving average of $189.25 and a two-hundred day moving average of $170.06. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 1.03.

Hyatt Hotels (NYSE:H) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Hyatt Hotels had a negative net margin of 0.48% and a positive return on equity of 6.01%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, research analysts expect that Hyatt Hotels Corporation will post 3.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial boosted their price target on Hyatt Hotels from $181.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Susquehanna dropped their target price on shares of Hyatt Hotels from $185.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hyatt Hotels in a research report on Wednesday, June 24th. Wells Fargo & Company boosted their price target on shares of Hyatt Hotels from $182.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Sanford C. Bernstein upped their price objective on shares of Hyatt Hotels from $186.00 to $202.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Hyatt Hotels presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.29.

Insider Activity

In other news, Director Susan D. Kronick sold 1,119 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $174.51, for a total transaction of $195,276.69. Following the completion of the sale, the director owned 31,225 shares in the company, valued at $5,449,074.75. This trade represents a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cary D. Mcmillan sold 1,119 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $174.96, for a total value of $195,780.24. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,224 shares of company stock worth $4,173,605. Corporate insiders own 23.60% of the company’s stock.

Hyatt Hotels Company 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.