3,100 Shares in Marriott International (MAR) Acquired by Parkside Investments LLC
Parkside Investments LLC bought a new stake in Marriott International (NASDAQ:MAR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,100 shares of the company’s stock, valued at approximately $342,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AHL Partners LLP increased its stake in shares of Marriott International by 230.4% in the 2nd quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock valued at $1,967,000 after buying an additional 13,679 shares during the period. Numeric Investors LLC acquired a new stake in shares of Marriott International in the 2nd quarter valued at $772,000. Wells Fargo & Company MN increased its stake in shares of Marriott International by 28.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock valued at $126,329,000 after buying an additional 275,382 shares during the period. Andra AP fonden increased its stake in shares of Marriott International by 82.4% in the 2nd quarter. Andra AP fonden now owns 24,800 shares of the company’s stock valued at $2,488,000 after buying an additional 11,200 shares during the period. Finally, Airain ltd acquired a new stake in shares of Marriott International in the 2nd quarter valued at $13,601,000. 65.88% of the stock is owned by institutional investors.
Several research firms have recently issued reports on MAR. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Thursday, October 26th. Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 5th. Robert W. Baird set a $103.00 price target on Marriott International and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $98.00 price target on shares of Marriott International in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $106.64.
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Marriott International (NASDAQ:MAR) traded up $1.30 during trading hours on Monday, hitting $120.11. The company had a trading volume of 3,377,000 shares, compared to its average volume of 2,456,549. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $44,010.00, a P/E ratio of 29.37, a P/E/G ratio of 3.00 and a beta of 1.34. Marriott International has a twelve month low of $72.75 and a twelve month high of $124.34.
Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. Marriott International’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. research analysts anticipate that Marriott International will post 4.24 EPS for the current year.
Marriott International announced that its Board of Directors has initiated a share repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio is currently 35.87%.
In other Marriott International news, insider Deborah Marriott Harrison sold 130,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the transaction, the insider now owns 114,155 shares of the company’s stock, valued at $13,603,851.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Juliana B. Marriott sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now directly owns 18,000 shares in the company, valued at approximately $1,809,180. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,727 shares of company stock worth $23,836,500. 11.32% of the stock is owned by company insiders.
Marriott International 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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