Marriott International Inc (MAR) Director Sells $234,497.60 in Stock
Marriott International Inc (NASDAQ:MAR) Director Bruce W. Duncan sold 1,808 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $129.70, for a total value of $234,497.60. Following the completion of the sale, the director now directly owns 40,008 shares of the company’s stock, valued at $5,189,037.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Marriott International Inc (NASDAQ MAR) traded down $0.96 during trading hours on Monday, hitting $128.36. The stock had a trading volume of 676,782 shares, compared to its average volume of 2,469,310. The stock has a market capitalization of $46,870.00, a P/E ratio of 31.62, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52. Marriott International Inc has a twelve month low of $81.04 and a twelve month high of $129.99.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.12. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The business’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. research analysts forecast that Marriott International Inc will post 4.24 earnings per share for the current year.
Marriott International announced that its Board of Directors has approved a share buyback plan on Thursday, November 9th that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several large investors have recently made changes to their positions in the company. Regal Wealth Group Inc. grew its position in shares of Marriott International by 0.3% in the second quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock valued at $164,000 after purchasing an additional 5 shares during the period. Family Firm Inc. grew its position in Marriott International by 0.3% during the second quarter. Family Firm Inc. now owns 2,931 shares of the company’s stock valued at $294,000 after acquiring an additional 8 shares during the period. Burt Wealth Advisors grew its position in Marriott International by 0.4% during the second quarter. Burt Wealth Advisors now owns 8,029 shares of the company’s stock valued at $805,000 after acquiring an additional 30 shares during the period. Kopp Investment Advisors LLC grew its position in Marriott International by 0.3% during the second quarter. Kopp Investment Advisors LLC now owns 11,481 shares of the company’s stock valued at $1,152,000 after acquiring an additional 36 shares during the period. Finally, Flagship Harbor Advisors LLC grew its position in Marriott International by 1.8% during the second quarter. Flagship Harbor Advisors LLC now owns 2,322 shares of the company’s stock valued at $233,000 after acquiring an additional 42 shares during the period. 66.83% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on MAR. Morgan Stanley reaffirmed a “buy” rating on shares of Marriott International in a report on Friday. Deutsche Bank reaffirmed a “hold” rating and set a $124.00 price objective on shares of Marriott International in a report on Wednesday, December 6th. Barclays lifted their price objective on Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 28th. Sanford C. Bernstein cut Marriott International from an “outperform” rating to a “market perform” rating in a report on Thursday, November 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $115.00 price objective (up from $98.00) on shares of Marriott International in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Marriott International currently has an average rating of “Buy” and an average price target of $110.86.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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