Marriott International (NASDAQ:MAR) Position Cut by IFP Advisors Inc
IFP Advisors Inc cut its stake in shares of Marriott International (NASDAQ:MAR) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,947 shares of the company’s stock after selling 1,091 shares during the period. IFP Advisors Inc’s holdings in Marriott International were worth $1,098,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Lodestar Investment Counsel LLC IL purchased a new position in Marriott International during the first quarter valued at $221,000. Carderock Capital Management Inc. raised its position in Marriott International by 7.1% in the first quarter. Carderock Capital Management Inc. now owns 10,173 shares of the company’s stock valued at $958,000 after buying an additional 678 shares during the last quarter. American Research & Management Co. raised its position in Marriott International by 2.2% in the first quarter. American Research & Management Co. now owns 13,149 shares of the company’s stock valued at $1,238,000 after buying an additional 284 shares during the last quarter. Baldwin Brothers Inc. MA raised its position in Marriott International by 0.4% in the first quarter. Baldwin Brothers Inc. MA now owns 127,489 shares of the company’s stock valued at $12,007,000 after buying an additional 478 shares during the last quarter. Finally, Gradient Investments LLC raised its position in Marriott International by 0.4% in the first quarter. Gradient Investments LLC now owns 2,005 shares of the company’s stock valued at $189,000 after buying an additional 7 shares during the last quarter. Institutional investors own 67.06% of the company’s stock.
Shares of Marriott International (NASDAQ MAR) opened at 103.95 on Wednesday. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51. The firm’s 50-day moving average is $102.51 and its 200-day moving average is $95.73. The firm has a market capitalization of $39.39 billion, a price-to-earnings ratio of 36.82 and a beta of 1.36. Marriott International also was the recipient of some unusual options trading activity on Monday. Investors acquired 9,942 call options on the company. This is an increase of 568% compared to the typical daily volume of 1,488 call options.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 25.59%. Marriott International’s revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities research analysts forecast that Marriott International will post $4.04 EPS for the current fiscal year.
Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Marriott International from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Stifel Nicolaus upped their price objective on shares of Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a report on Tuesday. Robert W. Baird upped their price objective on shares of Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a report on Tuesday. BidaskClub upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $111.00 price objective on shares of Marriott International in a report on Friday, May 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $98.44.
In other news, insider David S. Marriott sold 19,500 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $103.26, for a total transaction of $2,013,570.00. Following the transaction, the insider now directly owns 638,636 shares of the company’s stock, valued at $65,945,553.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Argiris Kyriakidis sold 3,800 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $102.94, for a total transaction of $391,172.00. Following the transaction, the insider now directly owns 19,079 shares in the company, valued at $1,963,992.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,016 shares of company stock worth $4,662,064. 17.07% of the stock is currently owned by corporate insiders.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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