American International Group Inc. reduced its stake in shares of Wyndham Worldwide Co. (NYSE:WYN) by 29.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,440 shares of the company’s stock after selling 19,142 shares during the quarter. American International Group Inc.’s holdings in Wyndham Worldwide were worth $4,790,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA purchased a new stake in shares of Wyndham Worldwide in the second quarter valued at approximately $158,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Wyndham Worldwide by 26.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,625 shares of the company’s stock valued at $163,000 after buying an additional 338 shares in the last quarter. Smithfield Trust Co. purchased a new stake in shares of Wyndham Worldwide in the second quarter valued at approximately $170,000. Advisor Partners LLC purchased a new stake in shares of Wyndham Worldwide in the second quarter valued at approximately $206,000. Finally, Pacer Advisors Inc. increased its position in shares of Wyndham Worldwide by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,158 shares of the company’s stock valued at $217,000 after buying an additional 171 shares in the last quarter. Institutional investors own 94.13% of the company’s stock.
Wyndham Worldwide Co. (WYN) traded up $0.69 during trading on Wednesday, hitting $112.90. The stock had a trading volume of 1,216,300 shares, compared to its average volume of 1,118,563. The stock has a market capitalization of $11,369.81, a PE ratio of 18.55 and a beta of 1.35. Wyndham Worldwide Co. has a 1-year low of $74.03 and a 1-year high of $114.49. The company has a debt-to-equity ratio of 9.00, a current ratio of 0.96 and a quick ratio of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, November 24th. Wyndham Worldwide’s dividend payout ratio is presently 41.58%.
Wyndham Worldwide announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Separately, Zacks Investment Research cut Wyndham Worldwide from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Wyndham Worldwide currently has a consensus rating of “Hold” and a consensus price target of $108.29.
In other news, Director George Herrera sold 311 shares of Wyndham Worldwide stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $105.82, for a total value of $32,910.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.39% of the company’s stock.
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Wyndham Worldwide Profile
Wyndham Worldwide Corporation is a hospitality company. The Company offers a range of hospitality services and products through its global portfolio of brands. The Company operates through three segments: Wyndham Hotel Group, Wyndham Destination Network and Wyndham Vacation Ownership. The Company’s brands include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Howard Johnson, Wingate by Wyndham, Microtel Inns & Suites by Wyndham, TRYP by Wyndham, Dolce Hotels and Resorts, RCI, Landal GreenParks, Novasol, Hoseasons, cottages.com, James Villa Holidays, Wyndham Vacation Rentals, Wyndham Vacation Resorts, Shell Vacations Club and WorldMark by Wyndham.
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