PEAK6 Investments L.P. lifted its holdings in shares of Extended Stay America Inc (NYSE:STAY) by 764.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,816 shares of the company’s stock after acquiring an additional 116,575 shares during the period. PEAK6 Investments L.P. owned approximately 0.07% of Extended Stay America worth $2,505,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Extended Stay America by 7.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,713,386 shares of the company’s stock worth $70,554,000 after acquiring an additional 253,006 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Extended Stay America by 33.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 3,367,597 shares of the company’s stock worth $63,984,000 after acquiring an additional 847,811 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Extended Stay America by 17.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 3,113,675 shares of the company’s stock worth $59,161,000 after acquiring an additional 456,300 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Extended Stay America by 17.5% during the fourth quarter. OppenheimerFunds Inc. now owns 2,824,932 shares of the company’s stock worth $53,674,000 after acquiring an additional 420,457 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Extended Stay America by 17.1% during the fourth quarter. Raymond James & Associates now owns 2,246,279 shares of the company’s stock worth $42,679,000 after acquiring an additional 327,298 shares in the last quarter. 98.89% of the stock is owned by institutional investors.
Extended Stay America Inc (NYSE STAY) opened at $20.01 on Wednesday. Extended Stay America Inc has a twelve month low of $15.63 and a twelve month high of $21.28. The firm has a market cap of $3,820.00, a PE ratio of 46.53, a P/E/G ratio of 3.54 and a beta of 0.96. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.94.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Monday, March 12th. Extended Stay America’s payout ratio is 195.35%.
Extended Stay America declared that its board has authorized a share buyback plan on Tuesday, February 27th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on STAY. Barclays reissued an “overweight” rating and set a $22.00 target price (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Zacks Investment Research raised shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, February 21st. Stifel Nicolaus restated a “buy” rating and set a $20.50 price target on shares of Extended Stay America in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. upgraded shares of Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 price target on the stock in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.06.
In other Extended Stay America news, insider Kevin A. Henry sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $19.23, for a total value of $192,300.00. Following the transaction, the insider now directly owns 117,196 shares in the company, valued at $2,253,679.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is owned by insiders.
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About Extended Stay America
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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