Insider Selling: Marriott Vacations Worldwide Corp major shareholder Unloads 22,780 Shares of Stock (VAC)
Marriott Vacations Worldwide Corp (NYSE:VAC) major shareholder J W. Marriott, Jr. sold 22,780 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $59.61, for a total transaction of $1,357,915.80. Following the transaction, the insider now directly owns 313,464 shares of the company’s stock, valued at approximately $18,685,589. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of 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 1-year low of $42.27 and a 1-year high of $60.23. The stock’s 50-day moving average is $57.53 and its 200-day moving average is $55.04. The company has a market cap of $1.984 billion and a price-to-earnings ratio of 25.14.
Marriott Vacations Worldwide Corp (NYSE:VAC) last issued its quarterly earnings data 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. Analysts expect that Marriott Vacations Worldwide Corp will post $2.77 EPS for the current fiscal year.
VAC has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $59.50.
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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