Victory Capital Management Inc. increased its stake in shares of Hyatt Hotels Co. (NYSE:H) by 12.6% in the 4th quarter, Holdings Channel reports. The firm owned 36,088 shares of the company’s stock after purchasing an additional 4,045 shares during the period. Victory Capital Management Inc.’s holdings in Hyatt Hotels were worth $2,654,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bamco Inc. NY raised its position in shares of Hyatt Hotels by 0.4% during the 3rd quarter. Bamco Inc. NY now owns 4,456,997 shares of the company’s stock worth $275,398,000 after purchasing an additional 17,660 shares during the last quarter. Long Pond Capital LP raised its position in shares of Hyatt Hotels by 14.1% during the 3rd quarter. Long Pond Capital LP now owns 3,035,548 shares of the company’s stock worth $187,567,000 after purchasing an additional 374,704 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Hyatt Hotels by 63.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,018,390 shares of the company’s stock worth $62,927,000 after purchasing an additional 393,424 shares during the last quarter. Gruss Capital Management LP raised its position in shares of Hyatt Hotels by 316.1% during the 3rd quarter. Gruss Capital Management LP now owns 645,000 shares of the company’s stock worth $39,855,000 after purchasing an additional 490,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Hyatt Hotels by 57.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 504,745 shares of the company’s stock worth $31,188,000 after purchasing an additional 183,500 shares during the last quarter. Hedge funds and other institutional investors own 38.74% of the company’s stock.
In other news, insider Mark Samuel Hoplamazian sold 49,173 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $71.54, for a total value of $3,517,836.42. Following the completion of the sale, the insider now owns 300,655 shares of the company’s stock, valued at approximately $21,508,858.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 27.51% of the company’s stock.
Hyatt Hotels (NYSE:H) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. Hyatt Hotels had a net margin of 5.31% and a return on equity of 6.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company posted $0.29 EPS. sell-side analysts forecast that Hyatt Hotels Co. will post 1.5 earnings per share for the current year.
Hyatt Hotels announced that its board has authorized a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd will be paid a $0.15 dividend. The ex-dividend date is Wednesday, March 21st. This represents a $0.60 annualized dividend and a dividend yield of 0.75%.
Several brokerages recently issued reports on H. Berenberg Bank raised shares of Hyatt Hotels from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.20 to $78.00 in a research note on Friday, November 10th. Citigroup raised shares of Hyatt Hotels from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Thursday, December 14th. Deutsche Bank upped their price objective on shares of Hyatt Hotels from $78.00 to $88.00 and gave the company a “hold” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of Hyatt Hotels from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $78.00 price objective on shares of Hyatt Hotels in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Hyatt Hotels presently has a consensus rating of “Hold” and an average target price of $78.77.
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Hyatt Hotels Profile
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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