Cigna Investments Inc. New lowered its position in shares of Choice Hotels International, Inc. (NYSE:CHH) by 22.4% during the second quarter, Holdings Channel reports. The fund owned 17,721 shares of the company’s stock after selling 5,103 shares during the period. Cigna Investments Inc. New’s holdings in Choice Hotels International were worth $1,142,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CHH. Nomura Holdings Inc. acquired a new stake in shares of Choice Hotels International during the first quarter valued at $446,000. Vanguard Group Inc. increased its stake in shares of Choice Hotels International by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,606,362 shares of the company’s stock valued at $163,158,000 after buying an additional 108,427 shares in the last quarter. Swiss National Bank increased its stake in shares of Choice Hotels International by 1.0% in the first quarter. Swiss National Bank now owns 60,067 shares of the company’s stock valued at $3,760,000 after buying an additional 600 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Choice Hotels International by 14.6% in the first quarter. Pacer Advisors Inc. now owns 6,329 shares of the company’s stock valued at $396,000 after buying an additional 806 shares in the last quarter. Finally, Piermont Capital Management Inc. acquired a new stake in shares of Choice Hotels International during the first quarter valued at $586,000. Hedge funds and other institutional investors own 49.70% of the company’s stock.

Shares of Choice Hotels International, Inc. (NYSE CHH) opened at 60.05 on Friday. The stock has a 50 day moving average price of $63.90 and a 200 day moving average price of $62.55. Choice Hotels International, Inc. has a 52 week low of $43.70 and a 52 week high of $67.80. The firm has a market cap of $3.37 billion, a PE ratio of 22.18 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 for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Choice Hotels International had a negative return on equity of 51.30% and a net margin of 16.11%. The company had revenue of $276.80 million during the quarter, compared to analyst estimates of $254.68 million. During the same quarter in the previous year, the company posted $0.71 EPS. Choice Hotels International’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts expect that Choice Hotels International, Inc. will post $2.85 earnings per share for the current year.

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Several analysts recently weighed in on CHH shares. Zacks Investment Research downgraded Choice Hotels International from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. Telsey Advisory Group upped their price objective on Choice Hotels International from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Friday, May 5th. Morgan Stanley downgraded Choice Hotels International from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective for the company. in a research report on Friday, May 5th. They noted that the move was a valuation call. BidaskClub downgraded Choice Hotels International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Deutsche Bank AG dropped their price objective on 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Choice Hotels International currently has an average rating of “Hold” and a consensus target price of $62.57.

In related news, CEO Stephen P. Joyce sold 44,116 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $62.88, for a total transaction of $2,774,014.08. Following the transaction, the chief executive officer now owns 201,922 shares in the company, valued at approximately $12,696,855.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen P. Joyce sold 17,024 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.02, for a total value of $1,072,852.48. Following the transaction, the chief executive officer now owns 176,943 shares in the company, valued at approximately $11,150,947.86. The disclosure for this sale can be found here. 22.01% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Choice Hotels International (NYSE:CHH)

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