State Board of Administration of Florida Retirement System maintained its position in shares of Choice Hotels International, Inc. (NYSE:CHH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,846 shares of the company’s stock at the close of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of Choice Hotels International worth $3,203,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Marshall Wace North America L.P. increased its holdings in shares of Choice Hotels International by 35.0% in the second quarter. Marshall Wace North America L.P. now owns 101,987 shares of the company’s stock valued at $6,527,000 after buying an additional 26,436 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Choice Hotels International by 1.1% in the second quarter. Legal & General Group Plc now owns 12,168 shares of the company’s stock worth $782,000 after acquiring an additional 136 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Choice Hotels International by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 220,508 shares of the company’s stock worth $14,168,000 after acquiring an additional 7,226 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Choice Hotels International in the second quarter worth $5,467,000. Finally, Rhumbline Advisers increased its stake in shares of Choice Hotels International by 10.4% in the second quarter. Rhumbline Advisers now owns 62,199 shares of the company’s stock worth $3,996,000 after acquiring an additional 5,876 shares during the last quarter. 50.26% of the stock is currently owned by institutional investors.
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Choice Hotels International, Inc. (NYSE CHH) opened at 63.25 on Friday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 23.37 and a beta of 1.11. Choice Hotels International, Inc. has a 12 month low of $43.70 and a 12 month high of $67.80. The stock’s 50 day moving average is $61.38 and its 200-day moving average is $63.21.
Choice Hotels International (NYSE:CHH) last issued its earnings results on Wednesday, August 2nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Choice Hotels International had a net margin of 16.11% and a negative return on equity of 51.30%. The company had revenue of $276.80 million during the quarter, compared to analysts’ expectations of $254.68 million. During the same period in the previous year, the company earned $0.71 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Choice Hotels International, Inc. will post $2.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 2nd will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, September 29th. Choice Hotels International’s dividend payout ratio is currently 31.85%.
A number of equities research analysts recently issued reports on CHH shares. BidaskClub upgraded shares of Choice Hotels International from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Choice Hotels International from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Deutsche Bank AG decreased their price objective on shares of Choice Hotels International from $68.00 to $66.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Finally, Barclays PLC reiterated an “underweight” rating and issued a $60.00 price objective (down from $61.00) on shares of Choice Hotels International in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $62.57.
In related news, major shareholder Bruce Bainum sold 20,770 shares of Choice Hotels International stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $62.00, for a total value of $1,287,740.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen P. Joyce sold 44,116 shares of Choice Hotels International stock in a transaction on Monday, July 10th. The stock was sold at an average price of $62.88, for a total transaction of $2,774,014.08. Following the completion of the transaction, the chief executive officer now directly owns 201,922 shares in the company, valued at $12,696,855.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,460 shares of company stock worth $6,337,153. Insiders own 22.01% of the company’s stock.
Choice Hotels International 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.
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