Utah Retirement Systems increased its position in shares of Choice Hotels International, Inc. (NYSE:CHH) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,112 shares of the company’s stock after purchasing an additional 100 shares during the period. Utah Retirement Systems’ holdings in Choice Hotels International were worth $393,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in Choice Hotels International during the first quarter worth about $446,000. Vanguard Group Inc. increased its position in Choice Hotels International by 4.3% during the first quarter. Vanguard Group Inc. now owns 2,606,362 shares of the company’s stock worth $163,158,000 after purchasing an additional 108,427 shares during the last quarter. Alliancebernstein L.P. increased its position in Choice Hotels International by 24.0% during the first quarter. Alliancebernstein L.P. now owns 19,663 shares of the company’s stock worth $1,231,000 after purchasing an additional 3,800 shares during the last quarter. Rhumbline Advisers increased its position in Choice Hotels International by 10.4% during the second quarter. Rhumbline Advisers now owns 62,199 shares of the company’s stock worth $3,996,000 after purchasing an additional 5,876 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its position in Choice Hotels International by 35.0% during the second quarter. Marshall Wace North America L.P. now owns 101,987 shares of the company’s stock worth $6,527,000 after purchasing an additional 26,436 shares during the last quarter. Hedge funds and other institutional investors own 50.27% of the company’s stock.
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Several equities research analysts recently issued reports on CHH shares. Zacks Investment Research upgraded shares of Choice Hotels International from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, July 5th. BidaskClub cut shares of Choice Hotels International from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Barclays PLC restated an “underweight” rating and set a $60.00 price objective (down from $61.00) on shares of Choice Hotels International in a research report on Friday, August 4th. Finally, Deutsche Bank AG cut 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 research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.57.
In other news, CEO Stephen P. Joyce sold 17,024 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.02, for a total transaction of $1,072,852.48. Following the transaction, the chief executive officer now directly owns 176,943 shares in the company, valued at approximately $11,150,947.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Pepper sold 1,071 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.09, for a total transaction of $65,427.39. Following the transaction, the insider now owns 69,864 shares in the company, valued at $4,267,991.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,460 shares of company stock worth $6,337,153. Insiders own 22.01% of the company’s stock.
Shares of Choice Hotels International, Inc. (NYSE:CHH) opened at 61.45 on Friday. Choice Hotels International, Inc. has a 12 month low of $43.70 and a 12 month high of $67.80. The firm’s 50 day moving average is $61.55 and its 200-day moving average is $63.18. The firm has a market capitalization of $3.45 billion, a PE ratio of 22.70 and a beta of 1.11.
Choice Hotels International (NYSE:CHH) last released its earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. The company had revenue of $276.80 million for the quarter, compared to analyst estimates of $254.68 million. Choice Hotels International had a net margin of 16.11% and a negative return on equity of 51.30%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. On average, analysts expect that Choice Hotels International, Inc. will post $2.85 EPS for the current fiscal year.
About Choice Hotels International
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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