RKL Wealth Management LLC Has $1.01 Million Stake in Marriott International Inc (MAR)
RKL Wealth Management LLC decreased its position in shares of Marriott International Inc (NASDAQ:MAR) by 25.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,422 shares of the company’s stock after selling 2,486 shares during the quarter. RKL Wealth Management LLC’s holdings in Marriott International were worth $1,008,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Marriott International in the 2nd quarter valued at $12,506,000. Dimensional Fund Advisors LP increased its position in shares of Marriott International by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 783,491 shares of the company’s stock valued at $78,593,000 after buying an additional 5,367 shares in the last quarter. Numeric Investors LLC bought a new stake in shares of Marriott International in the 2nd quarter valued at $772,000. QS Investors LLC increased its position in shares of Marriott International by 26.4% in the 2nd quarter. QS Investors LLC now owns 4,840 shares of the company’s stock valued at $486,000 after buying an additional 1,010 shares in the last quarter. Finally, AHL Partners LLP increased its position 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 in the last quarter. 66.68% of the stock is currently owned by institutional investors.
Marriott International Inc (NASDAQ:MAR) opened at $136.34 on Tuesday. Marriott International Inc has a one year low of $85.20 and a one year high of $149.21. The company has a market cap of $51,467.94, a PE ratio of 37.05, a PEG ratio of 2.29 and a beta of 1.35. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52.
Marriott International announced that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of analysts recently commented on MAR shares. Zacks Investment Research upgraded shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, October 26th. Royal Bank of Canada reiterated a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Morgan Stanley reiterated a “buy” rating on shares of Marriott International in a report on Friday, December 8th. Sanford C. Bernstein cut Marriott International from an “outperform” rating to a “market perform” rating in a report on Thursday, November 16th. Finally, Robert W. Baird set a $103.00 target price on Marriott International and gave the stock a “hold” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $117.21.
In other Marriott International news, EVP Edward A. Ryan sold 6,550 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $120.40, for a total transaction of $788,620.00. Following the completion of the sale, the executive vice president now directly owns 67,856 shares in the company, valued at $8,169,862.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Deborah Marriott Harrison sold 130,000 shares of the firm’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 sale, the insider now owns 114,155 shares of the company’s stock, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders sold a total of 221,825 shares of company stock valued at $27,378,820 over the last quarter. 11.32% of the stock is currently owned by company insiders.
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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