Extended Stay America, Inc. (NYSE:STAY) Sees Significant Increase in Short Interest
Extended Stay America, Inc. (NYSE:STAY) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 8,445,954 shares, an increase of 120.2% from the June 15th total of 3,834,785 shares. Based on an average trading volume of 3,806,095 shares, the short-interest ratio is presently 2.2 days.
Shares of Extended Stay America (NYSE:STAY) opened at 19.69 on Tuesday. The firm has a 50-day moving average price of $18.47 and a 200 day moving average price of $17.16. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 23.72 and a beta of 1.06. Extended Stay America has a 12 month low of $13.00 and a 12 month high of $19.98.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $291 million for the quarter, compared to analyst estimates of $290.20 million. Extended Stay America had a return on equity of 14.43% and a net margin of 5.96%. Extended Stay America’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, analysts anticipate that Extended Stay America will post $1.04 EPS for the current fiscal year.
In related news, major shareholder Paulson & Co. Inc. sold 10,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $17.23, for a total transaction of $176,607,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Reinhart Partners Inc. raised its stake in shares of Extended Stay America by 1.4% in the second quarter. Reinhart Partners Inc. now owns 141,590 shares of the company’s stock valued at $2,741,000 after buying an additional 1,980 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Extended Stay America during the second quarter valued at approximately $35,374,000. James Investment Research Inc. bought a new stake in shares of Extended Stay America during the second quarter valued at approximately $2,253,000. Meeder Asset Management Inc. raised its stake in shares of Extended Stay America by 111.2% in the second quarter. Meeder Asset Management Inc. now owns 13,923 shares of the company’s stock valued at $270,000 after buying an additional 7,330 shares in the last quarter. Finally, Chesley Taft & Associates LLC bought a new stake in shares of Extended Stay America during the second quarter valued at approximately $1,025,000. 92.27% of the stock is currently owned by institutional investors and hedge funds.
STAY has been the topic of several research reports. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, June 20th. Stifel Nicolaus upped their price target on Extended Stay America from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 31st. ValuEngine raised Extended Stay America from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. TheStreet raised Extended Stay America from a “c+” rating to a “b” rating in a research report on Friday, May 5th. Finally, BidaskClub raised Extended Stay America from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Extended Stay America has a consensus rating of “Buy” and a consensus target price of $19.00.
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Extended Stay America Company Profile
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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