Choice Hotels International Inc (NYSE:CHH) CEO Sells $2,774,014.08 in Stock
Choice Hotels International Inc (NYSE:CHH) CEO Stephen P. Joyce sold 44,116 shares of Choice Hotels International stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $62.88, for a total value of $2,774,014.08. Following the transaction, the chief executive officer now owns 201,922 shares of the company’s stock, valued at $12,696,855.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Choice Hotels International Inc (NYSE CHH) remained flat at $62.65 during mid-day trading on Tuesday. The company had a trading volume of 232,217 shares. The stock has a market cap of $3.51 billion, a P/E ratio of 24.05 and a beta of 1.11. The firm has a 50-day moving average price of $64.95 and a 200 day moving average price of $60.91. Choice Hotels International Inc has a 52-week low of $43.70 and a 52-week high of $67.80.
Choice Hotels International (NYSE:CHH) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. The firm had revenue of $197.89 million during the quarter, compared to analysts’ expectations of $216.24 million. During the same period in the previous year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, equities analysts expect that Choice Hotels International Inc will post $2.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Monday, July 3rd will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, June 29th. Choice Hotels International’s payout ratio is currently 33.20%.
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A number of institutional investors have recently added to or reduced their stakes in the stock. UBS Oconnor LLC increased its position in Choice Hotels International by 11.9% in the first quarter. UBS Oconnor LLC now owns 94,110 shares of the company’s stock valued at $5,891,000 after buying an additional 9,993 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Choice Hotels International by 152.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,158 shares of the company’s stock valued at $323,000 after buying an additional 3,115 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Choice Hotels International by 34.3% in the first quarter. Goldman Sachs Group Inc. now owns 159,708 shares of the company’s stock valued at $9,998,000 after buying an additional 40,802 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Choice Hotels International during the first quarter valued at $1,997,000. Finally, Macquarie Group Ltd. increased its position in Choice Hotels International by 61.9% in the first quarter. Macquarie Group Ltd. now owns 788,863 shares of the company’s stock valued at $49,383,000 after buying an additional 301,656 shares during the last quarter. 49.80% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on CHH. Telsey Advisory Group lifted their price target on Choice Hotels International from $59.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, May 5th. Morgan Stanley cut Choice Hotels International from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective for the company. in a research report on Friday, May 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Choice Hotels International from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.40.
Choice Hotels International Company Profile
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
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