Oppenheimer Asset Management Inc. reduced its stake in shares of La Quinta Holdings Inc. (NYSE:LQ) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,558 shares of the company’s stock after selling 459 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in La Quinta Holdings were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in LQ. Bank of New York Mellon Corp grew its holdings in La Quinta Holdings by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 405,802 shares of the company’s stock valued at $5,485,000 after buying an additional 23,456 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in La Quinta Holdings by 69.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 51,764 shares of the company’s stock valued at $700,000 after buying an additional 21,263 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in La Quinta Holdings by 17.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 121,998 shares of the company’s stock valued at $1,649,000 after buying an additional 18,347 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in La Quinta Holdings by 88.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,535 shares of the company’s stock valued at $291,000 after buying an additional 10,134 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in La Quinta Holdings by 24.0% during the 1st quarter. JPMorgan Chase & Co. now owns 7,676,423 shares of the company’s stock valued at $103,785,000 after buying an additional 1,487,652 shares in the last quarter. 97.02% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages have issued reports on LQ. TheStreet raised shares of La Quinta Holdings from a “c” rating to a “b” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of La Quinta Holdings from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research raised shares of La Quinta Holdings from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, July 5th. Finally, Morgan Stanley raised shares of La Quinta Holdings from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $14.50 to $16.00 in a report on Thursday, June 15th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $13.41.

Shares of La Quinta Holdings Inc. (NYSE:LQ) opened at 17.17 on Friday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 48.50 and a beta of 1.85. La Quinta Holdings Inc. has a one year low of $9.73 and a one year high of $17.23. The firm’s 50-day moving average is $15.66 and its 200-day moving average is $14.48.

La Quinta Holdings (NYSE:LQ) last posted its quarterly earnings data on Monday, August 7th. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.03. The business had revenue of $263.40 million during the quarter, compared to analysts’ expectations of $260.44 million. La Quinta Holdings had a return on equity of 7.28% and a net margin of 4.13%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Equities research analysts forecast that La Quinta Holdings Inc. will post $0.39 EPS for the current year.

About La Quinta Holdings

La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.

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Institutional Ownership by Quarter for La Quinta Holdings (NYSE:LQ)

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