Insider Selling: J W. Marriott, Jr. Unloads 22,780 Shares of Marriott Vacations Worldwide Corp Stock (VAC)
Marriott Vacations Worldwide Corp (NYSE:VAC) major shareholder J W. Marriott, Jr. sold 22,780 shares of Marriott Vacations Worldwide Corp stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $59.61, for a total value of $1,357,915.80. Following the completion of the transaction, the insider now directly owns 313,464 shares in the company, valued at approximately $18,685,589. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Marriott Vacations Worldwide Corp from $65.00 to $67.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Marriott Vacations Worldwide Corp from a “neutral” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $60.00 price target on the stock. Finally, analysts at JMP Securities reiterated a “market outperform” rating on shares of Marriott Vacations Worldwide Corp in a research note on Friday, July 25th. They now have a $70.00 price target on the stock, up previously from $65.00. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $59.50.
Marriott Vacations Worldwide Corp (NYSE:VAC) traded up 0.08% during mid-day trading on Friday, hitting $59.37. The stock had a trading volume of 183,057 shares. Marriott Vacations Worldwide Corp has a one year low of $42.27 and a one year high of $60.23. The stock has a 50-day moving average of $57. and a 200-day moving average of $54.9. The company has a market cap of $1.984 billion and a P/E ratio of 25.14.
Marriott Vacations Worldwide Corp (NYSE:VAC) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.20. The company had revenue of $410.00 million for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts predict that Marriott Vacations Worldwide Corp will post $2.77 earnings per share for the current fiscal year.
Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacations ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.
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