Symphony Asset Management LLC Sells 3,865 Shares of Marriott International (MAR)
Symphony Asset Management LLC cut its holdings in Marriott International (NASDAQ:MAR) by 24.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,750 shares of the company’s stock after selling 3,865 shares during the period. Symphony Asset Management LLC’s holdings in Marriott International were worth $1,178,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in Marriott International in the first quarter worth $115,000. Baker Ellis Asset Management LLC acquired a new position in Marriott International during the 2nd quarter worth $133,000. TrimTabs Asset Management LLC lifted its position in Marriott International by 89.1% during the 1st quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock worth $147,000 after acquiring an additional 736 shares during the last quarter. North Star Investment Management Corp. lifted its position in Marriott International by 3.3% during the 2nd quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after acquiring an additional 50 shares during the last quarter. Finally, Regal Wealth Group Inc. lifted its position in Marriott International by 0.3% during the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 65.93% of the company’s stock.
A number of research firms have weighed in on MAR. Zacks Investment Research lowered shares of Marriott International from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. BidaskClub raised shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Robert W. Baird boosted their target price on shares of Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. Stifel Nicolaus boosted their target price on shares of Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $109.00 target price (up previously from $92.00) on shares of Marriott International in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $100.81.
In other Marriott International news, Director Mary K. Bush sold 1,200 shares of Marriott International stock in a transaction dated Friday, June 30th. The shares were 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 in the company, valued at approximately $111,079.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Capuano sold 5,000 shares of Marriott International stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $100.72, for a total transaction of $503,600.00. Following the completion of the sale, the executive vice president now owns 56,405 shares of the company’s stock, valued at approximately $5,681,111.60. The disclosure for this sale can be found here. Insiders sold a total of 97,491 shares of company stock valued at $9,857,627 in the last quarter. Corporate insiders own 11.32% of the company’s stock.
Marriott International (NASDAQ MAR) traded down 0.21% on Wednesday, reaching $104.86. 39,612 shares of the company traded hands. The stock has a 50-day moving average price of $102.08 and a 200-day moving average price of $98.66. Marriott International has a 52-week low of $65.91 and a 52-week high of $110.51. The firm has a market cap of $39.05 billion, a P/E ratio of 34.41 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. Marriott International’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Analysts anticipate that Marriott International will post $4.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s payout ratio is 45.52%.
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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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