Cigna Investments Inc. New Sells 874 Shares of Marriott International (MAR)
Cigna Investments Inc. New reduced its position in shares of Marriott International (NASDAQ:MAR) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,278 shares of the company’s stock after selling 874 shares during the period. Cigna Investments Inc. New’s holdings in Marriott International were worth $1,232,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the stock. Capital Investment Advisors LLC boosted its stake in shares of Marriott International by 5.6% in the first quarter. Capital Investment Advisors LLC now owns 15,313 shares of the company’s stock worth $1,442,000 after buying an additional 810 shares during the last quarter. Cohen Capital Management Inc. purchased a new stake in Marriott International during the first quarter valued at $194,000. Lodestar Investment Counsel LLC IL purchased a new stake in Marriott International during the first quarter valued at $221,000. Carderock Capital Management Inc. boosted its stake 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 in the last quarter. Finally, American Research & Management Co. boosted its stake 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 in the last quarter. 67.06% of the stock is owned by institutional investors.
Marriott International (NASDAQ:MAR) opened at 101.35 on Thursday. Marriott International has a 1-year low of $65.91 and a 1-year high of $110.51. The firm has a market cap of $38.40 billion, a P/E ratio of 35.90 and a beta of 1.36. The stock has a 50 day moving average price of $102.42 and a 200 day moving average price of $96.25. Marriott International also saw unusually large options trading on Monday. Stock traders acquired 9,942 call options on the company. This represents an increase of approximately 568% compared to the average daily volume of 1,488 call options.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. Marriott International had a return on equity of 25.59% and a net margin of 5.27%. Marriott International’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. On average, analysts anticipate that Marriott International will post $4.09 EPS for the current year.
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Several equities research analysts recently weighed in on the stock. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $113.00 price objective (up previously from $111.00) on shares of Marriott International in a research report on Wednesday. Zacks Investment Research raised shares of Marriott International from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised shares of Marriott International from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $95.00 price objective (up previously from $87.00) on shares of Marriott International in a research report on Tuesday, May 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $113.00 price objective (up previously from $100.00) on shares of Marriott International in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Marriott International presently has an average rating of “Buy” and an average target price of $98.56.
In related news, insider David S. Marriott sold 19,500 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $103.26, for a total value of $2,013,570.00. Following the completion of the sale, the insider now owns 638,636 shares in the company, valued at approximately $65,945,553.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary K. Bush sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $100.89, for a total value of $121,068.00. Following the completion of the sale, the director now owns 1,101 shares of the company’s stock, valued at approximately $111,079.89. The disclosure for this sale can be found here. Insiders sold a total of 41,216 shares of company stock valued at $4,270,892 in the last 90 days. 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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