Marriott International Inc. (MAR) Sees Significant Drop in Short Interest
Marriott International Inc. (NASDAQ:MAR) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 17,048,080 shares, a decrease of 70.4% from the September 15th total of 57,558,746 shares. Based on an average daily volume of 7,789,465 shares, the days-to-cover ratio is presently 2.2 days. Currently, 5.2% of the shares of the company are short sold.
In related news, insider Argiris Kyriakidis sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $71.49, for a total transaction of $214,470.00. Following the completion of the transaction, the insider now directly owns 21,658 shares in the company, valued at approximately $1,548,330.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Richard E. Marriott sold 71,287 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total value of $5,000,070.18. Following the transaction, the insider now owns 12,223,365 shares of the company’s stock, valued at $857,346,821.10. The disclosure for this sale can be found here. Insiders own 17.07% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Marriott International by 10.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,789,437 shares of the company’s stock valued at $384,766,000 after buying an additional 532,473 shares during the period. Capital Research Global Investors boosted its position in Marriott International by 39.4% in the second quarter. Capital Research Global Investors now owns 4,329,447 shares of the company’s stock valued at $287,735,000 after buying an additional 1,224,450 shares in the last quarter. BlackRock Fund Advisors boosted its position in Marriott International by 1.0% in the second quarter. BlackRock Fund Advisors now owns 3,002,539 shares of the company’s stock valued at $199,549,000 after buying an additional 30,517 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Marriott International by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 2,578,177 shares of the company’s stock valued at $171,346,000 after buying an additional 55,813 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Marriott International by 69.4% in the second quarter. Ameriprise Financial Inc. now owns 2,505,197 shares of the company’s stock valued at $166,495,000 after buying an additional 1,026,134 shares in the last quarter. Institutional investors own 73.74% of the company’s stock.
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A number of brokerages recently issued reports on MAR. Zacks Investment Research downgraded Marriott International from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Stifel Nicolaus boosted their price objective on Marriott International from $65.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, September 26th. Morgan Stanley upgraded Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 price objective for the company in a research note on Monday, September 26th. Vetr downgraded Marriott International from a “buy” rating to a “hold” rating and set a $74.52 price objective for the company. in a research note on Tuesday, July 26th. Finally, Goldman Sachs Group Inc. began coverage on Marriott International in a research note on Monday, September 26th. They set a “buy” rating and a $81.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $78.09.
Shares of Marriott International (NASDAQ:MAR) opened at 67.27 on Friday. Marriott International has a 1-year low of $56.43 and a 1-year high of $79.88. The firm has a 50-day moving average price of $68.96 and a 200-day moving average price of $68.76. The stock has a market cap of $17.11 billion, a price-to-earnings ratio of 20.04 and a beta of 1.28.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. Marriott International had a negative return on equity of 25.25% and a net margin of 5.87%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the business earned $0.82 EPS. Marriott International’s revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that Marriott International will post $3.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 23rd were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, September 21st. This represents a $1.20 annualized dividend and a yield of 1.78%. Marriott International’s dividend payout ratio (DPR) is 35.71%.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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