Northern Trust Corp lessened its stake in shares of Choice Hotels International Inc (NYSE:CHH) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,474 shares of the company’s stock after selling 5,848 shares during the quarter. Northern Trust Corp owned about 0.44% of Choice Hotels International worth $18,861,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fort L.P. acquired a new position in Choice Hotels International in the second quarter worth approximately $116,000. BNP Paribas Arbitrage SA grew its position in Choice Hotels International by 340.3% in the second quarter. BNP Paribas Arbitrage SA now owns 1,594 shares of the company’s stock worth $121,000 after buying an additional 1,232 shares during the last quarter. Verition Fund Management LLC acquired a new position in Choice Hotels International in the second quarter worth approximately $274,000. State of Alaska Department of Revenue grew its position in Choice Hotels International by 32.2% in the second quarter. State of Alaska Department of Revenue now owns 4,060 shares of the company’s stock worth $306,000 after buying an additional 990 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Choice Hotels International by 66.6% in the first quarter. Xact Kapitalforvaltning AB now owns 4,751 shares of the company’s stock worth $381,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 54.23% of the company’s stock.
In related news, CEO Patrick Pacious sold 35,350 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $82.33, for a total value of $2,910,365.50. Following the completion of the transaction, the chief executive officer now owns 139,498 shares of the company’s stock, valued at approximately $11,484,870.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick Cimerola sold 5,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $83.05, for a total transaction of $430,199.00. Following the completion of the transaction, the insider now directly owns 26,009 shares of the company’s stock, valued at approximately $2,160,047.45. The disclosure for this sale can be found here. Insiders sold a total of 55,323 shares of company stock valued at $4,553,317 in the last ninety days. Company insiders own 24.38% of the company’s stock.
Choice Hotels International stock opened at $73.40 on Thursday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.01. Choice Hotels International Inc has a 1 year low of $69.06 and a 1 year high of $85.35.
Choice Hotels International (NYSE:CHH) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.07. Choice Hotels International had a net margin of 14.08% and a negative return on equity of 87.57%. The firm had revenue of $295.40 million during the quarter, compared to analyst estimates of $307.89 million. During the same quarter last year, the business posted $0.79 EPS. The company’s revenue was up 13.2% on a year-over-year basis. Equities analysts forecast that Choice Hotels International Inc will post 3.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Tuesday, October 2nd were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, October 1st. Choice Hotels International’s dividend payout ratio is 29.86%.
CHH has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Choice Hotels International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Wednesday, July 11th. Wells Fargo & Co restated a “hold” rating on shares of Choice Hotels International in a research report on Thursday, August 9th. Longbow Research initiated coverage on shares of Choice Hotels International in a research report on Friday, September 7th. They issued a “buy” rating and a $95.00 price target on the stock. ValuEngine upgraded shares of Choice Hotels International from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Finally, TheStreet upgraded shares of Choice Hotels International from a “c+” rating to a “b-” rating in a research report on Friday, September 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.22.
About Choice Hotels International
Choice Hotels International, Inc, together with its subsidiaries, operates as a hotel franchisor worldwide. It operates through Hotel Franchising and SkyTouch Technology segments. The company franchises lodging properties under the brand names of 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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