Jennison Associates LLC Sells 33,329 Shares of Hyatt Hotels Corporation (H)
Jennison Associates LLC lowered its position in shares of Hyatt Hotels Corporation (NYSE:H) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,544,696 shares of the company’s stock after selling 33,329 shares during the quarter. Jennison Associates LLC owned approximately 1.24% of Hyatt Hotels Corporation worth $95,447,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Cibc World Markets Corp acquired a new stake in shares of Hyatt Hotels Corporation during the second quarter worth $37,099,000. BNP Paribas Arbitrage SA grew its stake in shares of Hyatt Hotels Corporation by 485.2% during the second quarter. BNP Paribas Arbitrage SA now owns 624,966 shares of the company’s stock worth $35,129,000 after purchasing an additional 518,164 shares during the period. Koch Industries Inc. acquired a new stake in shares of Hyatt Hotels Corporation during the second quarter worth $478,000. Vanguard Group Inc. grew its stake in shares of Hyatt Hotels Corporation by 19.5% during the first quarter. Vanguard Group Inc. now owns 2,872,449 shares of the company’s stock worth $155,055,000 after purchasing an additional 469,675 shares during the period. Finally, Marshall Wace North America L.P. grew its stake in shares of Hyatt Hotels Corporation by 35.8% during the second quarter. Marshall Wace North America L.P. now owns 952,368 shares of the company’s stock worth $53,333,000 after purchasing an additional 251,253 shares during the period. Institutional investors own 31.13% of the company’s stock.
In related news, insider Stephen G. Haggerty sold 7,117 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $61.60, for a total transaction of $438,407.20. Following the sale, the insider now owns 57,326 shares in the company, valued at $3,531,281.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard A. Friedman sold 8,654,050 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $57.58, for a total value of $498,300,199.00. The disclosure for this sale can be found here. Insiders have sold 8,896,535 shares of company stock worth $513,184,542 in the last quarter. 27.51% of the stock is currently owned by corporate insiders.
Hyatt Hotels Corporation (NYSE H) traded up $0.63 on Friday, reaching $69.83. The company had a trading volume of 1,049,600 shares, compared to its average volume of 741,334. Hyatt Hotels Corporation has a fifty-two week low of $50.21 and a fifty-two week high of $70.95. The company has a market capitalization of $8,490.42, a price-to-earnings ratio of 38.79, a PEG ratio of 10.16 and a beta of 1.20. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.
Hyatt Hotels Corporation (NYSE:H) last released its earnings results on Thursday, November 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. Hyatt Hotels Corporation had a return on equity of 6.13% and a net margin of 4.66%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. equities research analysts anticipate that Hyatt Hotels Corporation will post 1.69 earnings per share for the current year.
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A number of research firms have issued reports on H. Stifel Nicolaus boosted their target price on Hyatt Hotels Corporation from $61.00 to $67.00 and gave the company a “hold” rating in a research note on Monday, November 6th. Berenberg Bank raised Hyatt Hotels Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.20 to $78.00 in a research note on Friday. B. Riley cut Hyatt Hotels Corporation from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Monday, November 6th. FBR & Co reissued an “outperform” rating and issued a $66.00 target price (up from $63.00) on shares of Hyatt Hotels Corporation in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $60.00 target price (up from $59.00) on shares of Hyatt Hotels Corporation in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.50.
Hyatt Hotels Corporation Profile
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
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